Answered

Join the IDNLearn.com community and start getting the answers you need today. Join our community to receive prompt, thorough responses from knowledgeable experts.

Account Balances
Assets = $37,526
Liabilities = $12,845
Equity = $32,500
You write a check for $759 to make a payment
on a loan. What are the new account balances?

Sagot :

Marvineetesh3idn

If a person write a check for $759 to make a payment on a loan, then the account balance would be changed as in the balance sheet of the person.

What is account balance?

An Account balance is limited as the amount of monetary system that is hold in a specific account in the bank account or in any another account.

From the given case, if a person make a payment of loan, then the account balance would be:

Assets = $36,767 ($37,526 – $759)

Liabilities = $12,086 ($12,845  -$759)

Equity = $32,500

Therefore, the balance of Equity remains unaffected by the payment of loan.

Learn more about the loan, refer to;

https://brainly.com/question/11794123

#SPJ1

Your presence in our community is highly appreciated. Keep sharing your insights and solutions. Together, we can build a rich and valuable knowledge resource for everyone. Thank you for visiting IDNLearn.com. We’re here to provide clear and concise answers, so visit us again soon.