The Village Laundry Company purchased $6,500 worth of laundry supplies on June 2 and recorded the purchase as an asset. On June 30, an inventory of the laundry supplies indicated only $3,000 on hand. The adjusting entry that should be made by the company on June 30 is:
a) Debit Laundry Supplies Expense, $3,000; Credit Laundry Supplies, $3,000.
b) Debit Laundry Supplies Expense, $3,500; Credit Laundry Supplies, $3,000.
c) Debit Laundry Supplies, $3,500; Credit Laundry Supplies Expense, $3,500.
d) Debit Laundry Supplies Expense, $3,500; Credit Laundry Supplies, $3,500.