na purchased an equipment from Nightshade worth P1,000,000. Mirana only paid 30% as down payment 10. How much Accounts Payable did Nightshade record? 11. What is the effect of the transaction on Mirana's assets? (Enclose answer with a parenthesis if it 12. What is the effect of the transaction on Mirana's liabilities? (Enclose answer with a parenthesis if decreased)

na purchased an equipment from Nightshade worth P1,000,000. Mirana only paid 30% as down payment 10. How much Accounts Payable did Nightshade record? 11. What is the effect of the transaction on Mirana's assets? (Enclose answer with a parenthesis if it 12. What is the effect of the transaction on Mirana's liabilities? (Enclose answer with a parenthesis if decreased)

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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11, please read the question carefully and follow the instructions. thanks