Saddleback company paid off 42000 of its accounts payable


Question - Saddleback Company paid off $42,000 of its accounts payable in cash. What would be the effects of this transaction on the accounting equation?

Solution Preview :

Prepared by a verified Expert
Accounting Basics: Saddleback company paid off 42000 of its accounts payable
Reference No:- TGS02433715

Now Priced at $20 (50% Discount)

Recommended (93%)

Rated (4.5/5)