Use This Journal Entry to Answer the Following Question Explain How the Above Journal Entry Relates to the Measurement

Essay

Use this journal entry to answer the following question.
$\begin{array}{|l|l|l|r|r|}\hline\text { Nov. } & 16 & \text { Accounts Payable }& 685 \\&&\text { Cash } & & 685\\&&\text { Recorded payment of a liability } \\\hline\end{array}$ Explain how the above journal entry relates to the measurement issues of (a)recognition,(b)valuation,and (c)classification.