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A company began operations and purchased $6000 of supplies. By year-end $2400 were still on hand. The year-end entry would include a: debit to supplies Expense for $4200 debit to supplies expense for$4200 debit to supplies expense for $2400 credit to supplies expense for $2300 credit to supplies expense for$2400 The entry to record the cost of Merachandise inventory sold involves a: debit to merchandise Invetory and a credit to Goods sold debit to merchandise Invetory and a credit to Sales Revenue debit to merchandise Invetory and a credit to Accounts Recevivable debit to costs of Goods sold and a credit to sales Revenue debit to costs of Goods sold and a credit to merachandise inventory Failure to record depreciated at year-end will: overstate total liabilities understate asset overstate assets understate owners' equity overstate revenue On September 12, 20X4. the Martin Company declared a $3,000 cash dividend payable on October 3, 20X3. The effect of the October 3, 20X4. transaction on the Martin Company would be to: decrease the balance in the cash account and decrease the balance in the retained earnings account by $3,000 decrease the balance in the cash account and decrease the balance in the retained earnings account by $3,000 decrease the balance in the cash account and decrease the balance in the retained earnings account by $3,000 decrease the balance in the cash account and decrease the balance in the retained earnings account by $3,000 decrease the balance in the cash account and decrease the balance in the retained earnings account by $3,000 On October 1, 20X4, Martin Company paid $1, 800 for rent on the building it occupies. This rent payment is for the three-month period of October 1 to December 31.20X4. The journal entry to be made on October 1, 20X4 will be

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