Hamilton Lawn Service Incurred $500 Labor Expense and Promised to Pay

question 143

Multiple Choice

Hamilton Lawn Service incurred $500 labor expense and promised to pay the labor agency within 30 days.Which of the following accounts decreased?

• A) Accounts payable
• B) Owner's capital
• C) Supplies
• D) Accounts receivable

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Definitions:

Customer Payments

The amounts of money received from customers in exchange for goods or services provided by a company.

Services Provided

Tasks or activities done for others, typically in exchange for payment.

Dance Instruction

The act of teaching the art of dance, encompassing a wide range of styles and techniques taught by skilled instructors.

General Journal

A bookkeeping ledger that records every business transaction in chronological order.