Question 5 On May 1, 2021, a company purchased office supplies for $500 on credit. Which of the following is the correct journal entry for this transaction? a. DR Supplies $500 CR Accounts Receivable $500 Ob. DR Cash $500 CR Supplies $500 Oc. DR Supplies $500 CR Accounts Payable $500 Od. DR Expense $500 CR Supplies $500