The Concord Corporation purchased $6800 worth of laundry supplies on June 2 and recorded the purchase as an asset. On June 30, an inventory of the laundry supplies indicated only $1200 on hand. The adjusting entry that should be made by the company on June 30 is: O debit Supplies Expense, $5600; credit Supplies, $5600. O debit Supplies Expense, $1200; credit Supplies, $1200. O debit Supplies, $5600; credit Supplies Expense, $5600. debit Supplies, $1200; credit Supplies Expense, $1200. Pharoah Company issued a one-year 7% $312000 note on April 30, 2022. Assuming that the company only accrues Interest at year-end, the interest expense for the year ended December 31, 2022 was: O $12740 $14560 O $16380. $21840