Saddleback Company paid off $36,000 of its accounts payable in cash. What would be the effects of this transaction on the accounting equation?Multiple CholceAssets, $36,000 Increase; equlty. $36,000 Increase.Assets, $36,000 decrease: liabilitles, $36,000 decrease.Assets, $36,000 decrease; liabilities, $36,000 Increase.Llabilitles, $36,000 decrease; egulty, $36,000 Increase.Assets, $36,000 decrease; gulty $36,000 decrease.

Payment to accounts payable = $36000

Answered: Saddleback Company paid off $36,000 of…

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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