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

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

Quizplus · Accepted Answer

When Martin Supply Service paid the materials supplier, it reduced the amount owed to the supplier, which is recorded in the accounts payable account. Therefore, the accounts payable account decreases.

Martin Supply Service Paid $350 Cash to a Materials Supplier