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The payment of accounts payable results in a(n) decrease in liabilities and a decrease in assets, decrease in liabilities and an increase in assets, increase in liabilities and a decrease in owners' equity, decrease in liabilities and an increase in owners' equity
The payment of accounts payable results in a(n)
decrease in liabilities and a decrease in assets,
decrease in liabilities and an increase in assets,
increase in liabilities and a decrease in owners' equity,
decrease in liabilities and an increase in owners' equity.
Expert Solution
Answer:
decrease in liabilities and decrease in assets.
since it results in as follows:
A/P debit-liabilities-decrease
cash credit-assets-decrease
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