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1 year ago

Account Balances

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6 0

If a person write a check for $759 to make a payment on a loan, then the account balance would be changed as in the balance sheet of the person.

<h3>What is account balance?</h3>

An Account balance is limited as the amount of monetary system that is hold in a specific account in the bank account or in any another account.

From the given case, if a person make a payment of loan, then the account balance would be:

Assets = $36,767 ($37,526 – $759)

Liabilities = $12,086 ($12,845 -$759)

Equity = $32,500

Therefore, the balance of Equity remains unaffected by the payment of loan.

Learn more about the loan, refer to;

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