The Vintage Laundry Company purchased $8, 500 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 $1, 500 on hand. The adjusting entry that should be made by the company on June 30 is: A) debit Supplies Expense, $7,000, credit Supplies, $7,000 B) debit Supplies, $7,000: credit Supplies Expense, $7.000. C) debit Supplies, $1, 500: credit Supplies Expense, $1, 500. D) debit Supplies Expense, $1, 500: credit Supplies, $1.500