Vaughn Manufacturing purchased office supplies costing $7140 and debited Supplies for the full amount. At the end of the accounting period, a physical count of office supplies revealed $2550 still on hand. The appropriate adjusting journal entry to be made at the end of the period would be:
A) debit Supplies Expense, $4590; credit Supplies, $4590.
B) debit Supplies, $2550; credit Supplies Expense, $2550.
C) debit Supplies Expense, $2550; credit Supplies, $2550.
D) debit Supplies, $4590; credit Supplies Expense, $4590.
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Vaughn Manufacturing purchased office supplies costing $7140 and debited Supplies for the full amoun...
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