Nick's Landscaping Services incurred $500 as a repair expense and promised to pay the repair company within 30 days.Which of the following accounts will increase as a result of this transaction?

Question

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The repair expense is a liability that Nick's Landscaping Services owes to the repair company. Therefore, the Accounts Payable account will increase to reflect this liability. None of the other accounts are affected by this transaction.

Nick's Landscaping Services Incurred $500 as a Repair Expense and Promised