Chester Company started Year 2 with a $2,000 balance in its Cash account, a $500 balance in its Supplies account, and a $2,500 balance in its Common Stock account. During Year 2, the company experienced the following events:(1) Paid $1,400 cash to purchase supplies.(2) Physical count revealed $300 of supplies on hand at the end of Year 2.Based on this information, which of the following shows how the year-end adjusting entry required to recognize supplies expense would affect Chester's account balances? 
Definitions:
Policy Implementation
The process of executing and applying a set of actions or strategies as dictated by a particular policy to achieve its objectives.
Innovations
New ideas, products, services, or methods that offer better solutions to existing needs or problems, often leading to transformation or improvement.
Leadership
The ability to guide, inspire, and influence a group towards achieving a common goal.
Intended Results
The anticipated or desired outcomes that a policy, program, or action seeks to achieve.
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