QUESTION 7 At the end of last year, the count of supplies on hand was $1,000. During the current year, office supplies amounting to $1,500 were purchased. At the end of the current year, there are $500 of supplies remaining. What is the amount of supplies expense to be recorded for the year? O a $2,000 O b. $1,500 O c. $2,500 d. $500