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bekas [8.4K]
2 years ago
13

If a company paid $38,000 of its accounts payable in cash, what was the effect on the accounting equation? Multiple Choice Asset

s would decrease $38,000, liabilities would decrease $38,000, and equity would decrease $38,000. Assets would decrease $38,000, liabilities would decrease $38,000, and equity would increase $38,000. Assets would decrease $38,000, liabilities would decrease $38,000, and equity remains unchanged. There would be no effect on the accounts because the accounts are affected by the same amount. Assets would increase $38,000 and liabilities would decrease $38,000.
Business
1 answer:
Tom [10]2 years ago
6 0

Answer:

Assets increase by $75,000 and liabilities increase by $75,000.

Explanation:

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