A business incurred an expense and paid it immediately. To record this transaction,

A. an expense is debited, and a liability is credited.

B. an expense is debited, and an asset is credited.

C. an expense is debited, and Capital is credited.

D. None of the above

Question

Business

Coleman Hoffman

23 November, 05:43

A business incurred an expense and paid it immediately. To record this transaction,

A. an expense is debited, and a liability is credited.

B. an expense is debited, and an asset is credited.

C. an expense is debited, and Capital is credited.

D. None of the above

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Answers (2)

Know the Answer?

Fletcher Hampton · Answer 1

The right answer for the question that is being asked and shown above is that: " A. an expense is debited, and a liability is credited. " A business incurred an expense and paid it immediately. To record this transaction, an expense is debited, and a liability is credited.

Lorenzo · Answer 2

The correct answer to the question is letter B. An expense is debited, and an asset is credited.

A business incurred an expense and paid it immediately. To record this transaction,A. an expense is debited, and a liability is credited.B. an expense is debited, and an asset is credited.C. an expense is debited, and Capital is credited.D. None of the above

A business incurred an expense and paid it immediately. To record this transaction,

A. an expense is debited, and a liability is credited.

B. an expense is debited, and an asset is credited.

C. an expense is debited, and Capital is credited.

D. None of the above