A company purchased supplies of $1,000 on account.In transaction analysis,how does this transaction affect the accounting equation?
A) Add $1,000 to Supplies account and add $1,000 to Notes Payable account.
B) Add $1,000 to Supplies account and subtract $1,000 from Cash account.
C) Add $1,000 to Supplies Expense account and add $1,000 to Notes Payable account.
D) Add $1,000 to Supplies account and add $1,000 to Accounts Payable account.
Correct Answer:
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