Today,Cedar Park Company paid $600 of its accounts payable in cash.What is the effect on the accounting equation?
A) Assets,$600 increase; liabilities,no effect; equity,$600 increase.
B) Assets,$600 decrease; liabilities,$600 decrease; equity,no effect.
C) Assets,$600 decrease; liabilities,$400 increase; equity,$200 decrease.
D) Assets,no effect; liabilities,$600 decrease; equity,$400 increase.
E) No effect.
Correct Answer:
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