Which of the following accounts are increased by credits? Assets Liabilities a. Both Assets and Liabilities b. Liabilities only O Noither Assets nor Liabilities d Assets only QUESTION 30 Which of the following accounts are decreased by credits? Dividends Assets O a Assets only b. Dividends only c. Both Dividends and Assets d. Neither Dividends nor Assets QUESTION 31 What journal entry should be used to record the following transaction? Purchasing supplies on account a Debit-supplies expense & Credit-supplies inventory Ob Debit-land & Credit-cash c. Debit-supplies inventory & Credit-accounts payable d Debit-utility expense & Credit-cash