You paid off an outstanding accounts payable balance with cash. The correct way to post this transaction
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Question:
You paid off an outstanding accounts payable balance with cash. The correct way to post this transaction is __________.
debit accounts payable, credit cash
credit accounts payable, debit cash
debit accounts payable, credit accounts receivable
none of these
Related Book For
Financial Accounting Tools for Business Decision Making
ISBN: 978-1119493631
9th edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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