Transcribed image text: D Question 3 3 pts Which of the following is the correct end-of-period adjusting entry to record the cost of supplies used during a period? Debit Supplies Expense and Credit Accounts Payable O Debit Supplies Expense and Credit Supplies Debit Supplies Expense and Credit Retained Earnings Debit Cash and Credit Supplies Expense D Question 4 3 pts On December 31, 2018. Carrier Corp reported a balance for retained earnings of $65,000. During 2019, the company reported net income of $230,000, and declared and paid a $40,000 dividend. The December 31, 2019 balance sheet should report a balance for retained earnings of O $255,000 $295.000 O $335.000 O 5190.000 Question 5 3 pts When a cash payment is made on an account payable: Assets and stockholders' equity decrease Assets and expenses decrease Lisbilities and expenses decrease Assets and lites both decrease