Photometer Company paid off $30,000 of its accounts payable in cash which of the following would be correct in regards to recording this transaction? Debit to Cash: Credit to Accounts Payable: Assets and Liabilities both decrease Debit to Cash: Credit to Accounts Payable: Assets and Liabilities both increase Debit to Accounts Payable. Credit to Cash: Assets and Liabilities both increase Debit to Accounts Payable; Credit to Cash; Assets and Liabilities both decrease None of the above are correct