The accounts payable has a $3,000 credit balance. An entry for the payment of $1,000 on the amount owed is recorded and posted,The new balance of the accounts payable is__________balance.

a.2,000 credit
b.4,000 credit
c.2,000 debit
d.4,000 debit

A payable has a credit balance means that you owe the amount of the balance. An entry for the payment means that you made a payment on account, which also means that you decreased the amount that you owe on the payable.