Question 17 (3.33 points) Consider the following balance sheet: Cash $70,000 Accounts payable $30,000 Accounts receivable 30,000 Long-term debt 20,000 Inventories 50,000 Common stock 200,000 Net fixed assets 350,000 Retained earnings 250,000 Total assets $500,000 Total Liabilities+Equity $500,000 Assume that the business uses $10,000 of its cash to pay for supplies that were ordered on credit terms that have already been received and booked (.e. recorded on the balance sheet). Which of the following statements reflects the resulting balance sheet changes? The cash account decreases by $10,000 and the supplies account increases by $10,000 The cash account decreases by $10,000 and the accounts receivable account increases by $10,000 The cash account decreases by $10,000 and the retained earnings account decreases by $10,000 The cash account decreases by $10,000 and the accounts payable account decreases by $10,000