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Which accounts are affected, and in which direction, by the following business activity? Use account...

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Question

Accounting

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 $2,500 for supplies purchased last month.
Question 17 options:
1)
Increase Supplies
2)
Increase Cash
3)
Increase Supplies Expense
4)
Decrease Cash
5)
No entry required
6)
Decrease Supplies
7)
Decrease Accounts Payable
8)
Increase Accounts Payable
9)
Decrease Supplies Expense
10)
Increase Accounts Receivable
11)
Decrease Accounts Receivable

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