Journal Entries: Business Formation Example Video Lessons

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Problem: The payment of an account payable would: a. decrease assets and increase owner's equity b. have no effect on total assets c. decrease assets and decrease liabilities d. decrease assets and increase liabilities

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Problem Details

The payment of an account payable would:

a. decrease assets and increase owner's equity

b. have no effect on total assets

c. decrease assets and decrease liabilities

d. decrease assets and increase liabilities

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Based on our data, we think this problem is relevant for Professor Senkl's class at University of Guelph.