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What is adjusting journal entry to update supplies balance

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Question - Actual supplies on hand as of December 31st are $350. Balance in the supplies account is $1,000. What is the adjusting journal entry to update the supplies balance?

a. Debit Supplies $650, Credit Supplies Expense $650

b. Debit Supplies Expense $1,650, Credit Supplies 1,650

c. Debit Supplies Expense $650, Credit Supplies $650.

d. Debit Supplies Expense $350, Credit Supplies $350

Reference no: EM132643291

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