Payment of an account payable affects the components of the accounting equation in the following way. (a)

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Payment of an account payable affects the components of the accounting equation in the following way.

(a) Decreases stockholders' equity and decreases liabilities.

(b) Increases assets and decreases liabilities.

(c) Decreases assets and increases stockholders' equity.

(d) Decreases assets and decreases liabilities.

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Accounting Tools For Business Decision Making

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Payment of an account payable affects the components of the accounting equation in the following way. (a)

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d Payment of an account payable results in an equal decre...View the full answer

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