The adjusting entry to record expenses incurred but not yet paid will cause O 1. increase liabilities and decrease stockholders' equity 2. decrease assets and decrease stockholders' equity 3. decrease liabilities and increase stockholders' equity 4. increase liabilities and increase stockholders' equity 5. decrease assets and increase stockholders' equity Depreciation is the expensing of: O 1.land. O 2. supplies 3. long-term assets that lack physical substance. O4.equipment and buildings. account with a normal balance. Cost of Goods Sold is a O 1. contra-asset: credit O 2. expense; debit 3. contra-revenue debit 4. contra-asset; debit O 5. contra-revenue; credit