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The Ryder's Uptown Grill received a bill of $400 from the Erml Advertising Agency. The owner, John Ryder, is postponing payment of the bill until a later date. The effect on specific items in the basic accounting equation is:

a) a decrease in Cash and an increase in Accounts Payable

b) a decrease in Cash and an increase in J. Ryder, Capital

c) an increase in Accounts Payable and a decrease in J. Ryder, Capital

d) a decrease in Accounts Payable and an increase in J. Ryder, Capital

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M968464

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