Solved

If a Business Pays $1,100 on Account to a Creditor

Question 21

Multiple Choice

If a business pays $1,100 on account to a creditor, the effect of the payment is a decrease to cash and a(n) :

A) decrease to Fees Income.
B) decrease to accounts payable.
C) increase to accounts receivable.
D) increase of capital.

Related Questions

Q16: Tune Tones Instrument Tuning Company owes Mandy

Q17: If a company uses a perpetual inventory

Q18: The purchases journal for Carothers Company is

Q19: For each of the transactions listed below,

Q20: On June 30, 2019, the general ledger

Q22: For each of the transactions listed below,

Q23: Read the description of the following transactions

Q24: For good internal control of purchases, businesses

Q25: The journal entry to record the purchase

Q26: One of the supplier accounts from the