What effect does this journal entry have on the accounts?
A) Decrease accounts payable, increase cash
B) Increase cash, decrease accounts payable
C) Increase accounts payable, increase cash
D) Decrease accounts payable, decrease cash
Correct Answer:
Verified
Q127: In accordance with the debit and credit
Q141: Expenses follow the same debit and credit
Q143: Total dollar amount of the debits equal
Q144: Which of the following owner's equity accounts
Q145: Which of the following will increase owner's
Q146: Which of the following is true regarding
Q149: Which of the following group of accounts
Q153: The process of rewriting the information from
Q154: The payment for the monthly rent will
Q158: All of the following occur with a
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents