For the year ended $31/12/2020,$ the financial statements of ABC Company were authorized for issue on $31/3/2021.$

On $10/2/2021,$ ABC discovered that the purchase of Supplies on account for $$500$ was debited to Purchases of $$5000$ and credited to Accounts Payable $$50000$ in $2020.$

How should IAS $10$ account for this event?

Select one:

a$.$

Accounts Payable $50000$

Purchases $5000$

b$.$ All answers are false

c$.$

Supplies $500$

Accounts Payable $4500$

Purchases $5000$

d$.$

Supplies $500$

Accounts Payable $500$

e$.$

Purchases $5000$

Accounts Payable $50000$

f$.$

Supplies $500$

Accounts Payable $50000$

Purchases $5000$

g$.$

Disclosure in the notes

h$.$

NO Action

i$.$

Supplies $500$

Accounts Payable $49500$

Purchases $5000$