The Waterway Bakery purchased $6510 worth of baking supplies on June 2 and recorded the purchase as an asset On June 30, an inventory of the baking supplies indicated only $2670 on hand. The adjusting entry that should be made by the company on June 30 is O debit Baking Supplies Expense, $3840; credit Baking Supplies, $3840. debit Baking Supplies Expense, $2670; credit Baking Supplies, $2670. debit Baking Supplies, $3840; credit Baking Supplies Expense, $3840, O debit Baking Supplies Expense, $3840; credit Baking Supplies, $2670