The entry to record a monthly payment on an installment note such as a car loan:
A) Increases expenses, decreases liabilities, and decreases assets.
B) Increases expenses, increases liabilities, and increases assets.
C) Increases expenses, decreases liabilities, and increases assets.
D) Increases expenses, increases liabilities, and decreases assets.
Answer: A
If the answers is incorrect or not given, you can answer the above question in the comment box. If the answers is incorrect or not given, you can answer the above question in the comment box.