3. The entry to record the payment of $1,000 to a supplier in settlement of an account would require: a. a debit to Accounts Payable and a credit to Cash for $1,000 b. a debit to Accounts Receivable and a credit to Cash for $1,000 c. a debit to Cash and a credit to Accounts Payable for $1,000 d. a debit to Cash and a credit to Accounts Receivable for $1,000
3. The entry to record the payment of $1,000 to a supplier in settlement of an account would require: a. a debit to Accounts Payable and a credit to Cash for $1,000 b. a debit to Accounts Receivable and a credit to Cash for $1,000 c. a debit to Cash and a credit to Accounts Payable for $1,000 d. a debit to Cash and a credit to Accounts Receivable for $1,000
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter9: Sales And Purchases
Section: Chapter Questions
Problem 7QY: The schedule of accounts payable lists each creditors account balance, and the total equals the...
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