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.
D
Business
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