what is the effect of this transaction on assets and liabilities

label Accounting
account_circle Unassigned
schedule 1 Day
account_balance_wallet $5

Co. paid $1,000 owed to a supplies vendor. The effect of this transaction on assets and liabilities is

Nov 13th, 2014

Accounts Payable is debited 

Cash is credited.

                                                                               Debit                                       Credit

Accounts Payable                                               $1,000

Cash                                                                                                                     $1,000

Nov 13th, 2014

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Nov 13th, 2014
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Nov 13th, 2014
Oct 17th, 2017
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