Oct 12, Research, Inc. purchased $100,000 of office supplies on credit. The supplies are expected to last one year. Date Accounts Debit Problem #12 Feb 5, Great Foods, Inc. purchased a one-year insurance policy for $75,000 cash. Date Accounts Problem #24 Oct 31, a company paid $24,000 for the monthly utility bill. Date Accounts Debit Credit Credit Cash 800,000 Debit Credit