Wayne Robichaud, Attorney, P.C., began the year with total assets of \($127,000\), liabilities of \($78,000\), and stockholders’ equity of \($49,000\). During the year the business earned rev¬ enue of \($107,000\) and paid expenses of \($37,000\). The business also paid cash dividends of \($67,000\). How would Wayne Robichaud, record expenses paid of $37,000?

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a. Expenses 37,000 Accounts payable 37,000 b. Accounts payable 37,000 Cash 37,000 c. Cash 37,000 Expenses 37,000 d. Expenses 37,000 Cash 37,000