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A business paid $450 to a supplier for an outstanding account payable. By mistake, the...

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Accounting

A business paid $450 to a supplier for an outstanding account payable. By mistake, the transaction is recorded as a $550 debit to Supplies and a $550 credit to cash. What is the necessary correcting entry?

a.debit $450 to Accounts payable, debit $100 to Cash; credit $550 to Supplies.

b.debit $100 to Accounts payable; credit $100 to Cash.

c.debit $450 to Supplies, debit $100 to Cash; credit $550 to Accounts payable.

d.debit $450 to Accounts payable; credit $450 to Cash.

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