The Rose Company purchased $1,500 worth of supplies on March 1st and recorded the purchase as Supplies. On March 31, an inventory counting of the supplies revealed that all supplies have been used and no supplies are still on hand. The adjusting entry that should be made by the company on March 31 is: Select one: O a. Supplies Expense is debited by $1,500 & Supplies is credited by $1,500. O b. Supplies is debited by $7,000 & Supplies Expense is credited by $7,000. O c. Supplies Expense is debited by $7,000 & Supplies is credited by $7,000. O d. Supplies is debited by $1,500 & Supplies Expense is credited by $1,500. Clear my choice