Saddleback Company Paid Off $30,000 of Its Accounts Payable in Cash.What

Multiple Choice

Saddleback Company paid off $30,000 of its accounts payable in cash.What would be the effects of this transaction on the accounting equation?

A) Assets,$30,000 increase; equity,$30,000 increase.
B) Assets,$30,000 decrease; liabilities,$30,000 decrease.
C) Assets,$30,000 decrease; liabilities,$30,000 increase.
D) Liabilities,$30,000 decrease; equity,$30,000 increase.
E) Assets,$30,000 decrease; equity $30,000 decrease.