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On 1 September 2018 Streak-Free Window Cleaning pays $1800

 

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On 1 September 2018 Streak-Free Window Cleaning pays $1800 in cash for supplies purchased on 22 July 2018. Assuming the business prepares monthly financial reports using the accrual basis, wvhat effect does this payment have on the accounting equation? Decrease in cash at bank $1800; increase in liability accounts payable $1800. Decrease in cash at bank $1800; decrease in liability accounts payable $1800. Decrease in cash at bank $1800; decrease in equity $1800. Decrease in cash at bank $1800; increase in equity $1800. 0000

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Accounting

Accounting

27th edition

Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac

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