Today, Cedar Park Company paid $600 of its accounts payable in cash. What is the effect on the accounting equation? Asse
Posted: Fri Jul 01, 2022 8:38 am
- Today Cedar Park Company Paid 600 Of Its Accounts Payable In Cash What Is The Effect On The Accounting Equation Asse 1 (103.54 KiB) Viewed 29 times
Today, Cedar Park Company paid $600 of its accounts payable in cash. What is the effect on the accounting equation? Assets, $600 increase; liabilities, no effect; equity, $600 increase. Assets, $600 decrease; liabilities, $600 decrease; equity, no effect. Assets, $600 decrease; liabilities, $400 increase; equity, $200 decrease Assets, no effect; liabilities, $600 decrease; equity, $400 increase