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Which accounts are affected, and in which direction, by the following business activity? Use account names from the expanded accounting equation. Select all that apply.
Which accounts are affected, and in which direction, by the following business activity? Use account names from the expanded accounting equation. Select all that apply.
Paid the bill of $ for supplies purchased last month.
Question options:
Increase Supplies
Increase Cash
Increase Supplies Expense
Decrease Cash
No entry required
Decrease Supplies
Decrease Accounts Payable
Increase Accounts Payable
Decrease Supplies Expense
Increase Accounts Receivable
Decrease Accounts Receivable
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