### Question**Cash was paid by Janer's Cleaning Service to creditors on account. Which of the following entries for Janer's Cleaning Service records this transaction?**a. Accounts Payable, debit; Accounts Receivable, creditb. Accounts Payable, debit; Cash, creditc. Accounts Receivable, debit; Cash, creditd. Cash, debit; Common Stock, credit### ExplanationWhen Janer's Cleaning Service pays cash to creditors on account, it means it is settling a liability (Accounts Payable) with cash. The correct accounting entries for this transaction would involve debiting Accounts Payable and crediting Cash.**Transaction Breakdown:**- **Accounts Payable**: Since the liability is being reduced, Accounts Payable should be debited.- **Cash**: Since cash is going out of the business, Cash should be credited.Thus, the correct entry is:**b. Accounts Payable, debit; Cash, credit**

For payment of creditors on account, Accounts payable should be debited and cash will be credited.

Calculator Cash was paid by Janer's Cleaning Service to creditors on account. Which of the following entries for Janer's Cleaning Service records this transaction? Oa. Accounts Payable, debit; Accounts Receivable, credit Ob. Accounts Payable, debit; Cash, credit

Calculator Cash was paid by Janer's Cleaning Service to creditors on account. Which of the following entries for Janer's Cleaning Service records this transaction? Oa. Accounts Payable, debit; Accounts Receivable, credit Ob. Accounts Payable, debit; Cash, credit

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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