When an accounts payable account is paid in cash, the owner's equity in the business decreases.
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Q34: When an owner invests assets in the
Q36: Liabilities are debts owed by the business
Q41: All owner's equity accounts record increases to
Q49: Journal entries can have more than two
Q50: Owner's capital will be reduced by the
Q51: Assets are increased with debits and decreased
Q52: The post reference notation used in the
Q53: Normal balances are the side that increase
Q53: A transaction that is recorded in the
Q54: Debits will increase Unearned Revenues and Revenues.
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