The balance in the supplies account before adjustment on December 31, 2019 is $3,000. The amount of supplies on hand is $500. What account should be debited in the journal (1) and for what amount to record the adjusting entry for supplies based on this information? JOURNAL Page 25 Date Description Debit Credit Post. Ref. Adjusting Entries 12/31 (1) (2) ? Supplies $2,500 Supplies $500 O Supplies Expense $2,500 O Supplies Expense $1,500 2 pts The balance in the supplies account before adjustment on December 31, 2019 is $3,000. The amount of supplies on hand is $500. What account should be credited in the journal (2) and for what amount to record the adjusting entry for supplies based on this information? JOURNAL Page 25 Date Description Post. Ref. Debit Credit Adjusting Entries 12/31 (1) ? (2) ? Supplies Expense $500 Supplies $500 Supplies $2,500 Supplies Expense $1,500