Use this journal entry to answer the following question.
$$\begin{array} { | l | l | l | r | r | }
\hline\text { Nov. } & 16 &\text { Accaunts Payable } & 685 \
&&\text { Cash } &&685 \
&&\text { Recorded payment of a lability } & \
\hline
\end{array}$$ Explain how the above journal entry relates to the measurement issues of (a)recognition,(b)valuation,and (c)classification.

Question

Use this journal entry to answer the following question.
 $$\begin{array} { | l | l | l | r | r | } 
\hline\text { Nov. } & 16 &\text { Accaunts Payable } & 685 \
&&\text { Cash } &&685 \
&&\text { Recorded payment of a lability } & \
\hline
\end{array}$$ Explain how the above journal entry relates to the measurement issues of (a)recognition,(b)valuation,and (c)classification.

Quizplus · Accepted Answer

The Answer of Use this journal entry to answer the following question.
 $$\begin{array} { | l | l | l | r | r | } 
\hline\text { Nov. } & 16 &\text { Accaunts Payable } & 685 \
&&\text { Cash } &&685 \
&&\text { Recorded payment of a lability } & \
\hline
\end{array}$$ Explain how the above journal entry relates to the measurement issues of (a)recognition,(b)valuation,and (c)classification.

Use This Journal Entry to Answer the Following Question Explain How the Above Journal Entry Relates to the Measurement