QUESTION 29 On January 7. Collin purchased supplies on account for 51.000, and recorded this purchase to the Supplies account. At the end of January, Collin had 5600 of these supplies still on hand. The proper adjusting journal entry at January 31 would: A include a debit to Supplies for $1,000 B. Include a credit to Supplies for $400 o include a debit to Accounts Payable for $400 D. include a debit to Supplies Expense for 5600 Stockholders' equity can consist of both capital stock and retained earnings. True False