A company purchased supplies of $5000 on account. How does this transaction affect the accounting equation?
A) Add $5000 to Supplies and add $5000 to Notes Payable.
B) Add $5000 to Supplies and subtract $5000 from Cash.
C) Add $5000 to Supplies Expense and add $5000 to Notes Payable.
D) Add $5000 to Supplies and add $5000 to Accounts Payable.
Correct Answer:
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