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    zuenuba's Avatar
    zuenuba Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Sep 25, 2011, 02:06 PM
    Payment on a portion of accounts payable will
    Payment on a portion of accounts payable will
    A.decrease net income
    B.not affect stockholder's equity
    C. Not affect total assets
    D.increase total liabilities
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
    Ultra Member
    		  
    #2

    Sep 26, 2011, 06:38 AM
    First you need to figure out what the journal entry is to record the transaction.

    It is:
    Debit Accounts Payable for the amount paid
    Credit Cash for the amount paid.

    Now you know what the journal entry is, you should be able to figure out what the answer is.
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