Assume that Ray Corporation purchases $2,000 of supplies on account on May 1. Which statement would be true regarding the journal entry that Ray would make on May 17 O Supplies an asset, would be debited. Accounts receivable, a lability, would be credited Supplies, an asset, would be debited Accounts payable ability would be credited O Supplies an expense, would be debited Accounts payable, a lability, would be credited O Supplies an aet, would be debited Accounts receivable, an annet, would be cndted E 2 4 R 2 10 5 T 6 C Y 47 Quiz saved at 2:42pm Submit U 97 " B 8 a 9 ' F G H J K > B N M V H comm