On May 1,Counts,Inc

Multiple Choice

On May 1,Counts,Inc.has a balance of $1,000 in office supplies.During May,the company buys $500 more of the office supplies.On May 31,the company counts the supplies and finds $200 of supplies remaining.What will the company report on its income statement for the month of May?

A) Supplies expense of $1,300
B) Supplies of $500
C) Supplies of $1,500
D) Supplies expense of $500