The Supplies account had a $360 debit balance at the end of the accounting period before adjustment for supplies used, and an inventory of $80 worth of unused supplies were on hand at the end of the period. Which of the following is the required adjusting entry? Debit Supplies $280 and credit Supplies Expense $280. Debit Supplies Expense $280 and credit Supplies $280 Debit Supplies $80 and credit Supplies Expense $80 Debit Supplies Expense $360 and credit Supplies $360

The Supplies account had a $360 debit balance at the end of the accounting period before adjustment for supplies used, and an inventory of $80 worth of unused supplies were on hand at the end of the period. Which of the following is the required adjusting entry? Debit Supplies $280 and credit Supplies Expense \$280. Debit Supplies Expense $280 and credit Supplies $280 Debit Supplies $80 and credit Supplies Expense $80 Debit Supplies Expense $360 and credit Supplies $360