Martin Supply Service paid $350 cash to a materials supplier that it owed from the previous month. Which of the following accounts decreases?

Question

Quizplus · Accepted Answer

When Martin Supply Service pays its materials supplier, its Accounts Payable account decreases as the company is settling its debt with the supplier. The other accounts listed do not have any direct relation to this transaction.

Martin Supply Service Paid $350 Cash to a Materials Supplier