Sheldon Company began Year 1 with $2,600 in its supplies account. During the year, the company purchased $7,700 of supplies on account The company paid $3,500 on accounts payable by year end. At the end of Year 1, Sheldon counted $4,700 of supplies on hand. Sheldon's financial statements for Year 1 would show: Multiple Choice $6,000 of supplies $2.300 of supplies expense O $4700 of supplies $2.000 of supplier expense 0 $4700 of supplies: 55.600 of supplies expende