On June 6, Wing Wah Inc. purchased supplies on account for HK$60,000. On June 30, the company paid half of the balance due. The June 30 payment will
A) decrease Cash and increase Supplies Expense by HK$ 60,000.
B) increase Cash and decrease Accounts Receivable by HK$30,000.
C) decrease Cash and decrease Accounts Payable by HK$30,000.
D) decrease Supplies and increase Supplies Expense by HK$30,000.
Correct Answer:
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