Which of the following statements is correct? A. Unearned Revenue is increased with a debit. B. Rent Expense is increased with a credit. C. Accounts Payable is increased with a credit. D. Prepaid Expenses are decreased with a debit.

Question

Mathematics

Parker Mckay

9 May, 10:37

Which of the following statements is correct? A. Unearned Revenue is increased with a debit. B. Rent Expense is increased with a credit. C. Accounts Payable is increased with a credit. D. Prepaid Expenses are decreased with a debit.

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Answers (1)

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Gideon Cox · Answer 1

C. Accounts payable is increased with a credit.

Step-by-step explanation:

Among the following the correct statement is option C that is Accounts payable is increased with a credit.

As liability account, Accounts payable is expected to have credit balance. A credit entry, will increase the balance in the accounts payable and a debit entry will decrease the balance.