Master Equipment Has a $17,400 Liability to Arrow Paint Co

question 106

Multiple Choice

Master Equipment has a $17,400 liability to Arrow Paint Co.When Master Equipment makes a partial payment of $7,600 on this liability,which of following occurs?

• A)Retained earnings are debited $9,800.
• B)The Accounts Payable account is credited $9,800.
• C)The Cash account is debited $7,600.
• D)The Accounts Payable account is debited $7,600.

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Definitions:

Attachment Bond

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Parent-Child Relationships

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