Question

In: Accounting

Paying $10,000 on an accounts payable results in a ______ to accounts payable. Select one: a)...

Paying $10,000 on an accounts payable results in a ______ to accounts payable.

Select one:

a) Debit

b) Credit

c) None of the above

Solutions

Expert Solution

Paying $10,000 on an accounts payable results in a Debited to accounts payable.

Because paying on an accounts payable the accounts payable is debited and cash is credited. so the journal entry is

Account and Explanation Debit ($) Credit ($)
Account Payable         10,000
                    Cash       10,000
(Recorded the payment on an accounts payable)

So correct option (b) Debit

ekkarill92 answered 2 years ago
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