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Consider the following balance sheet: Assume that the business uses $30,000 from its cash account to pay employee salaries. Which of the following statements reflects
Consider the following balance sheet: Assume that the business uses $30,000 from its cash account to pay employee salaries. Which of the following statements reflects the resulting balance sheet change? The cash account decreases by $30,000 and the retained earnings account is reduced by $30,000 The cash account decreases by $30,000 and the inventory account is increased by $30,000 The cash account decreases by $30,000 and the long term debt account is increased by $30,000 The cash account decreases by $30,000 and the accounts receivables account is reduced by $30,000
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