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The purchase of supplies on account was recorded and posted as a debit to Supplies for $500 and a credit to Accounts Receivable for $500.

The purchase of supplies on account was recorded and posted as a debit to Supplies for $500 and a credit to Accounts Receivable for $500. The correcting entry would include a:

: credit to Accounts Receivable for $1,000

: credit to Accounts Receivable for $500

: credit to Accounts Payable for $1,000

: credit to Accounts Payable for $500

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