You had been given the following information: 1. On 31/12/2017 ABC Company has $18,000 worth of supplies on hand. 2. On 10/4/2018 the company purchased supplies for $10,000 that were recorded as supplies. 3. Moreover, on 16/8/2018 additional supplies were purchased for $5,000 that was recorded as supplies expense. 4. At the end of the year, the amount of supplies on hand was $7,000. Based on the above-given information, answer the following questions: 1. What is the amount of the supplies expense that must be presented on the company's income statement for the year 2018? The Answer is: 12000 2. The debit side of the adjusting entry must include Supplies Expense amount of 12000 with an