ABC Company made a $2,500 payment on account, to satisfy a previously recorded account payable. Set up the necessary T-accounts below by entering appropriate account names, and show how this transaction would be recorded directly in those accounts.

Question

Quizplus · Accepted Answer

The Answer of ABC Company made a $2,500 payment on account, to satisfy a previously recorded account payable. Set up the necessary T-accounts below by entering appropriate account names, and show how this transaction would be recorded directly in those accounts.

ABC Company Made a $2,500 Payment on Account, to Satisfy