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Pharoah Company purchased office supplies costing $8680 and debited Supplies for the full amount. At the end of the accounting period, a physical count of

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Pharoah Company purchased office supplies costing $8680 and debited Supplies for the full amount. At the end of the accounting period, a physical count of office supplies revealed $3100 still on hand. The appropriate adjusting journal entry to be made at the end of the period would be O debit Supplies Expense, $5580; credit Supplies, $5580 debit Supplies, $5580; credit Supplies Experse, $5580 O debit Supplies, $3100; credit Supplies Expense, $3100 Odebit Supplies Expense, $3100 credit Supplies, $3100

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