Question 12 (1 point) Jackson Discount Service Company had a balance of $7,000 in its Supplies account and a zero balance in Supplies Expense at December 31 (prior to adjustment). A physical count of the supplies at that date determined that supplies with a cost of $1,300 were on hand. If the following tabular analysis is used, Jackson Company will: Assets Liabilities Stockholders' Equity Common Supplies Stock Revenue DN Increase the Supplies account balance by $1,300 Increase the Supplies Expense account balance by $1,300 Decrease the Supplies account balance by $5,700 Decrease the Supplies Expense account balance by $5,700