Sheldon Company began Year 1 with $1,000 in its supplies account. During the year, the company purchased $2,900 of supplies on account. The company paid $1900 on accounts payable by year end. At the end of Year 1, Sheldon counted $1,500 of supplies on hand. Sheldon's financial statements for Year 1 would show. 5 Multiple Choice O $2,000 of supplies, $2,900 of supplies expense O $1,500 of supplies, $1,400 of supplies expense $1,500 of supplies: $2.400 of supplies expense $2,000 of supplies, $500 of supplies expense Activate Wine