Green Cleaning purchased $500 of office supplies on credit. The company's policy is to initially record prepaid and unearned items in balance sheet accounts. Which of the following general journal entries will Green Cleaning make to record this transaction?
Debit Office supplies, $500; credit Cash, $500.
Debit Office supplies, $500; credit Accounts payable, $500.
Debit Accounts payable, $500; credit Office supplies, $500.
Debit Office supplies expense, $500; credit Cash, $500.
Debit Cash, $500; credit Office supplies, $500
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