The following account balances are taken from the December 31, 2018, financial statements of ABZ Advertising Company. The company use accrual basis accounting. Advertising Revenue Cash Accounts Receivable Interest Expense Accounts Payable Operating Expenses Deferred Revenue Equipment Income Tax Expense $ 46,482 41,516 7,296 2,299 5,000 37,460 1,178 18,048 2,326 The following activities occurred in 2019 1. Performed advertising services on account, $55,000. 2. Received cash payments on account, $10,400. 3. Received deposits from customers for advertising servicesto be performed in 2020, $2,500. 4. Made payments to suppliers on account, $5,000. 5. Incurred $45,000 of operating expenses: $39,000 was paid in cash and $6,000 was on account and unpaid as of the end of the year. Multiple Choice Debit Operating Expense and credit Cash for $5,000. Debit Accounts Payable and credit Operating Expense for $5,000. O Debit Accounts Payable and credit Cash for $5,000. Debit Cash and credit Accounts Payable for $5,000