XYZ Company used $5,000 cash to pay off its accounts payable. With respect to this event, indicate whether each of the following statements is true or false.Total assets would decrease.Expenses would increase.Total liabilities would remain the same.

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The Answer of XYZ Company used $5,000 cash to pay off its accounts payable. With respect to this event, indicate whether each of the following statements is true or false.Total assets would decrease.Expenses would increase.Total liabilities would remain the same.

XYZ Company Used $5,000 Cash to Pay Off Its Accounts