18\ If a company paid

$38,000

of its accounts payable in cash, what was the effect on the accounting equation?\ Multiple Choice\

03:40:11

\ Assets would decrease

$38,000

, liabilities would decrease

$38,000

, and equity remains unchanged.\ There would be no effect on the accounts because the accounts are affected by the same amount.\ Assets would increase

$38,000

and liabilities would decrease

$38,000

.\ Assets would decrease

$38,000

, liabilities would decrease

$38,000

, and equity would decrease

$38,000

.\

Mc

\ Prevy\ 18 of 30\ Next

f a company paid $38,000 of its accounts payable in cash, what was the effect on the accounting equation? Multiple Choice Assets would decrease $38,000, liabilities would decrease $38,000, and equity remains unchanged. There would be no effect on the accounts because the accounts are affected by the same amount. Assets would increase $38,000 and liabilities would decrease $38,000 Assets would decrease $38,000, liabilities would decrease $38,000, and equity would decrease $38,000