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Current Attempt in Progress Oriole Eyes Downtown Diner received a bill of $630 from...

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Accounting

Current Attempt in Progress
Oriole Eyes Downtown Diner received a bill of $630 from the Monty Wine Advertising Agency. The owner, A. A.
Bondy, is postponing payment of the bill until a later date. The effect on specific items in the basic accounting
equation is
an increase in Accounts Payable and a decrease in Retained Earnings.
a decrease in Cash and an increase in Accounts Payable.
a decrease in Accounts Payable and an increase in Retained Earnings.
a decrease in Cash and an increase in Retained Earnings.
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