Paying an account payable with cash affects the components of the accounting equation in the following way:

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(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

ISBN: 9780470534786

4th Edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

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Question Posted: Jun 10, 2024 01:02 AM

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Paying an account payable with cash affects the components of the accounting equation in the following way:

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Accounting Tools For Business Decision Making

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