Monsters Inc. pays creditors on account $1,000. What would be the correct journal entry? 

Debit Supplies $1,000 and Credit Supplies Expense $1,000 Debit Cash $1,000 and Credit Accounts Payable $1,000 Debit Supplies Expense $1,000 and Credit Supplies $1,000 Debit Accounts Payable $1,000 and Credit Cash $1,000.