Please refer again to the spreadsheet image. Listed below are the transactions that took place for J&E Clinic during 20X1. NOTE: INCREASES IN EXPENSES ARE RECORDED AS POSITIVE NUMBERS AND DECREASES IN EXPENSES ARE RECORDED AS NEGATIVE NUMBERS A. Purchased equipment for $40,000. Paid 20% in cash, with the remainder on credit. B. Provided service for which $7,500 was billed of which $2,500 was received in cash. c. On December 1, paid cash in advance for a 1 year's contract with a consulting physician - $24,000 D. Bought $15,000 worth of supplies on credit. Cash A/R Supplies Pre-paid Assets Ltd Expenses as to Use PPE Restricted Revenues, Net Assets Gains, OS Accum Dep Payables 32,000 Expenses (8.000) 40,000 B 2.500 5,000 7,500 n (24,000) 24,000 15,000 15,000 What is wrong with the way transaction D is recorded? Supplies should have increased by $15,000 and cash should have decreased by $15,000 Equipment should have increased by $15,000 rather than pre-paid expenses, and payables should have increased instead of expenses Supplies should have increased by $15,000 rather than pre-paid expenses, and payables should have increased instead of expenses Nothing, it is recorded correctly