The Sea Breeze Hotel and Golf Club Operates a Periodic

The Sea Breeze Hotel and Golf club operates a periodic inventory system in connection with its office supplies. Prior to the posting of its current financial year end adjusting entries, the office supplies account has a $200 debit balance and the office supplies purchases account has a debit balance of $1,100. A year end stock check has established that the hotel has $300 of office supplies on hand. What year end adjusting entry is required?

A) Debit Supplies inventory $1,100; Credit Supplies purchases: $1,100
Debit Supplies inventory $1,000; Credit Supplies expense $1,000.
B) Debit Supplies purchases $1,100; Credit Supplies inventory: $1,100
Debit Supplies inventory $1,000; Credit Supplies expense $1,000.
C) Debit Supplies purchases $1,100; Credit Supplies inventory: $1,100
Debit Supplies expense $1,000; Credit Supplies inventory $1,000.
D) Debit Supplies inventory $1,100; Credit Supplies purchases: $1,100
Debit Supplies expense $1,000; Credit Supplies inventory $1,000.
E) None of the above