The Accounts Payable account has a $3,000 credit balance. An entry for the payment of $1,000 on the amount owed is recorded and posted. The new balance of the Accounts Payable account is:
A. a $1,000 debit balance.
B. a $4,000 credit balance.
C. a $2,000 credit balance.
D. a $2,000 debit balance.
Answer: C
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Answer the following statement true (T) or false (F)
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Fill in the blank(s) with the appropriate word(s).
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