Question 7 333 pts A Company purchased office supplies costing $5,000 and debited Supplies for the full amount. Supplies on hand at the end of the accounting period were $1.400. The appropriate adjusting journal entry to be made would be: Debit supplies expense 51.400 Credit supplies $1,400 Debit supplies $1,400 : Credit supplies expense $1.400 Debit supplies $3,600; Credit supplies expense $3,600 Debit supplies expense $3,600; Credit supplies $3,600 N Previous Question 333 pts On August 1, the company signed a $30,000, 14%, 5-year note to help hinance renovations being made to the corporation headquarters. Assuming interest is accrued only when the year ends on December 31, the appropriate journal entry for the first year would be Debit interest expense $1.750, credit interest payable $1,750 Debit interest expense $4.200; credit notes payable $4.200 Debit interest expense $4,200, credit interest payable $4,200 Debit interest expense $1,750: credit notes payable $1,750