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Question 5 3 pts When a cash payment is made on an account payable: Assets and stockholders' equity decrease Assets and liabilities both decrease Liabilities

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Question 5 3 pts When a cash payment is made on an account payable: Assets and stockholders' equity decrease Assets and liabilities both decrease Liabilities and expenses decrease Assets and expenses decrease Question 6 3 pts The following is a partial trial balance for Trumpeter, Inc that has been scrambled. All accounts have the normal or expected balance: $12,000 Cash Prepaid Rent Salaries Expense Service Revenue Notes Payable Deferred Revenue Accounts Payable Common Stock Retained Earnings 4,500 30,000 20,000 3,000 5,000 68,000 8,000 What is the amount of Trumpter's total liabilities? $28,000

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