Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. when a company makes a payment for amounts owed fr

When a company makes a payment for amounts owed from prior purchases, it will record...

70.2K

Verified Solution

Question

Accounting

When a company makes a payment for amounts owed from prior purchases, it will record a debit to ______ and a credit to ______.

Multiple Choice

  • Cash; an expense

  • Accounts Payable; Retained Earnings

  • Accounts Payable Cash

  • an expense Cash

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Finance
1.2K views

A firm has taxable income of $150,000. What would be it's tax payable? Use the table...

Finance
1.2K views

Please discuss the 4 elements of the life cycle of a business venture and please provide...

Physics
1.2K views

1 Monochromatic light passes between 2 media If the angle in medium 1 is 45...

Basic Math
1.2K views

ation Write the equation of the circle below in standard form

Basic Math
1.2K views

11 18 000 is invested at an APR of 8 for 5 year

Basic Math
1.2K views

There is a rack of 15 billiard balls. Balls numbered 1 through 8 are solid-colored....

Statistics
1.2K views

Question stion 2 of x y 1 0 S 2 2 0 5 2 3...

Accounting
1.2K views

PG. 34 A journal entry with a debit to cash of $980, a...

Accounting
1.2K views

Required information [The following information applies to the questions displayed below.] Gregs Bicycle...

Accounting
1.2K views

Raven Corp has a checking account balance of $150,000, a bank overdraft of $40,000 on...

Finance
1.2K views

1. A una tasa de inters del 10% anual, a cunto equivalen $ 10,000 de...

Finance
1.2K views

Bir General Power tahvili %9,4 kupon faizlidir, vadesine 9 yl vardr ve vadeye kadar %8,4...