On January 1, 2010, Grey Corporation Had $1,000 of Office

Multiple Choice

On January 1, 2010, Grey Corporation had $1,000 of office supplies on hand. During the year, Grey purchased $10,000 of office supplies on credit. Payments to vendors for those supplies during 2010 totaled $8,400. At the end of the accounting period, only $1,300 of the supplies remained in Grey's supply cabinet. How much office supplies expense should Grey recognize for 2010?

A) $1,300
B) $1,600
C) $2,300
D) $8,400
E) $9,700