A Particular Company Had $2,400 of Supplies on Hand at January

Multiple Choice

A particular company had $2,400 of supplies on hand at January 1. During the year, supplies with a cost of $4,000 were purchased. At December 31, the actual supplies on hand amounted to $2,000. After the adjustments are recorded and posted at December 31, what are the ending balances in the Supplies and Supplies Expense accounts? Supplies Supplies Expense

A) $4,400 $2,000
B) $2,000 $4,400
C) $2,400 $4,000
D) $4,000 $2,400