Question

A company paid off Rs. 30,000 of its accounts payable in cash. What would be the effects of this transaction on the accounting equation?

Answer 1

Answer:

Equity. QN=4 Photometer Company paid off $30,000 of its accounts payable in cash. What would be the effects of this transaction on the accounting equation? ... Assets, $30,000 decrease; liabilities, $30,000 increase; equity, no effect.

Explanation:

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