Question: Multiple Select Question Select all that apply Powers, Inc., pays $ 2 2 , 0 0 0 to settle an account payable. What is the

Multiple Select Question
Select all that apply
Powers, Inc., pays $22,000 to settle an account payable. What is the effect of this transaction on the accounting equation?
Accounts payable decreases by $22,000.
Owners' equity decreases by $22,000.
Total liabilities decrease by $22,000.
Cash decreases by $22,000.
Total assets decrease by $22,000.
Multiple Select Question Select all that apply Powers, Inc., pays $22,000

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