On March 8, Black Candy Company Bought Supplies on Account $\quad$

On March 8, Black Candy Company bought supplies on account from the Arcade Fire Company for $550. Black Candy Company incorrectly debited Equipment for $500 and credited Accounts Payable for $500. The entries have been posted to the ledger. the correcting entry should be: a. Supplies $\quad$$\quad$ 550
$\quad$ Accounts Payable $\quad$ 550
b. Supplies $\quad$$\quad$ 550
$\quad$ Accounts Payable $\quad$ 500
$\quad$ Equipment $\quad$$\quad$ 50
c. Supplies $\quad$$\quad$ 550
$\quad$ Equipment $\quad$$\quad$ 550
d. Supplies $\quad$$\quad$ 550
$\quad$ Equipment $\quad$ 500
$\quad$ Accounts Payable $\quad$ 50