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Connors company paid​ $700 cash to make a repair on equipment it sold under a​ one-year warranty in the prior year. The entry to record the payment will debit.

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The entry to record the payment will debit Accrued Warranty Payable and credit Cash.

Journal entry

If Connors company paid​  the amount of $700 as cash to make a repair on equipment it sold. The  correct entry to record the payment  will be:

Debit Accrued Warranty Payable  $700

Credit Cash $700

(To record warranty payable)

Therefore the entry to record the payment will debit Accrued Warranty Payable and credit Cash.

Learn more about Journal entry here:https://brainly.com/question/14279491

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