Saddleback Company Paid Off $30,000 of Its Accounts Payable in Cash.What

question 243

Multiple Choice

Saddleback Company paid off $30,000 of its accounts payable in cash.What would be the effects of this transaction on the accounting equation?

• A)Assets,$30,000 increase; equity,$30,000 increase.
• B)Assets,$30,000 decrease; liabilities,$30,000 decrease.
• C)Assets,$30,000 decrease; liabilities,$30,000 increase.
• D)Liabilities,$30,000 decrease; equity,$30,000 increase.
• E)Assets,$30,000 decrease; equity $30,000 decrease.

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Definitions:

Food Reserves

Nutrients stored by organisms to be used when external food sources are scarce.

Seed Dispersal

The mechanism by which seeds are spread from their parent plant to new locations, aiding in species spread and diversity.

Indigestible Seed Coats

The outer layers of seeds that cannot be broken down by the digestive system of certain animals, aiding in the dispersion of seeds.

Drupe

A simple, fleshy fruit in which the inner wall of the fruit is a hard stone (e.g., peach, cherry).