Jackson Company paid $500 cash for salary expenses.Which of the following accurately reflects how this event affects the company's accounting equation?
$\begin{array}{|c|c|c|c|c|c|}
\hline & \text { Assets } & = & \text { Liab. } & + & \text { Equity } \
\hline \text { A } & 500 & = & 500 & + & \text { NA } \
\hline \text { B. } & (500) & = & \text { NA } & + & (500) \
\hline \text { C. } & (500) & = & (500) & + & \text { NA } \
\hline \text { D. } & (500) & = & \text { NA } & + & 500 \
\hline
\end{array}$

Question

Quizplus · Accepted Answer

Paying salary expenses decreases assets (cash) and decreases equity (retained earnings) by the same amount, reflecting a decrease in both.

Jackson Company Paid $500 Cash for Salary Expenses A) Option a B) Option B C) Option C D)

Jackson Company Paid $500 Cash for Salary Expenses A) Option a
B) Option B
C) Option C
D)