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A business purchases $500 of office supplies on account. What is the effect on the...

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Question

Accounting

A business purchases $500 of office supplies on account. What is the effect on the accounting equation?

A.

Office Supplies increase and Accounts Payable decrease

B.

Office Supplies increase and Cash decreases

C.

Total assets increase and total liabilities decrease

D.

Office Supplies increase and Accounts Payable increase

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