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Today, Cedar Park Company paid $600 of its accounts payable in cash. What is the effect on the financial account groups? OA. Assets, $600
Today, Cedar Park Company paid $600 of its accounts payable in cash. What is the effect on the financial account groups? OA. Assets, $600 decrease; liabilities, $600 decrease; equity, no effect. OB. No effect. OC. Assets, $600 increase; liabilities, no effect; equity, $600 increase. OD. Assets, no effect; liabilities, $600 decrease; equity, $400 increase. OE. Assets, $600 decrease; liabilities, $400 increase; equity, $200 decrease.
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