Question: 1)Answer in True or False : Making a payment on an account would be journalized with a debit to Accounts Payable and credit to Cash

1)Answer in True or False :

Making a payment on an account would be journalized with a debit to Accounts Payable and credit to Cash

2)chose one of the following : By NOT accruing warranty expense:

A.reported expenses will be overstated and reported liabilities will be understated.

B.reported liabilities will be understated and net income will be overstated.

C.reported liabilities will be overstated and net income will be understated.

D.reported expenses will be understated and net income will be understated.

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