Venus Inc. paid $5,000 for account payable. How does this transaction affect the accounting equation of Venus?
A) Assets decrease by $5,000 and equity increases by $5,000
B) Assets decrease by $5,000 and liabilities decrease by $5,000
C) Assets increase by $5,000 and equity decreases by $5,000
D) Assets increase by $5,000 and liabilities increase by $5,000
+1
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Venus Inc. paid $5,000 for account payable. How does this transaction affect the accounting equation of Venus? A) Assets decrease by $5,000 ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.