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Question
Photometer Company paid off $30,000 of its accounts payable in cash. What would be the effects of this transaction on the accounting equation?A.Assets, $30,000 increase; liabilities, no effect; equity, $30,000 increase.
B.Assets, $30,000 decrease; liabilities, $30,000 decrease; equity, no effect.
C.Assets, $30,000 decrease; liabilities, $30,000 increase; equity, no effect.
D.Assets, no effect; liabilities, $30,000 decrease; equity, $30,000 increase.
E.Assets, $30,000 decrease; liabilities, no effect; equity $30,000 decrease.
Answer
This answer is hidden. It contains 2 characters.
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