Problem: Pina Colada Corp. purchased office supplies costing $7700 and debited Supplies for the full amount. At the end of the accounting period, a physical count of office supplies revealed $2750 still on hand. The appropriate adjusting journal entry to be made at the end of the period would be: Select answer from the options below debit Supplies, $2750; credit Supplies Expense, $2750. debit Supplies Expense, $4950; credit Supplies, $4950. debit Supplies Expense, $2750; credit Supplies, $2750. debit Supplies, $4950; credit Supplies Expense, $4950.