Safari File Edit View History Bookmarks Window Help Sample Mid Term.pdf (page 2 of 13) V Search 5. Ring Company records the purchase of office supplies in the office supplies (asset) account. At each month end, the balance in the office supplies account is adjusted to the actual amount based on a physical inventory count. The March 31, 20x3 adjusted balance in the office supplies account was $4,600. During April 20x3, $2,300 of office supplies were purchased. The physical inventory count at April 30, 20x3 showed $3,900 of office supplies on hand. What adjusting journal entry would Ring make at April 30, 20x3 to properly report office supplies on hand? a) Office Supplies 2,300 Cash 2.300 b) Office supplies expense 6,900 Office Supplies 6,900 c) Office supplies expense 3,000 Office Supplies 3,000 d) Office Supplies 3,000 Office supplies expense 3,000