Question 3 of 4 > -/ 55 View Policies Current Attempt in Progress During the first year of Concord Corporation's operations, all purchases were recorded as assets. Supplies in the amount of $28600 were purchased. Actual year-end supplies amounted to $5600. The adjusting entry for store supplies will O debit Accounts Payable for $5600. decrease supplies by $5600. O increase expenses by $23000. O increase net income by $23000. e Textbook and Media Save for Later Attempts: 0 of 2 used Submit