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Accounting 26th Edition by Carl Warren ,Jim Reeve ,Jonathan Duchac
Edition 26ISBN: 978-1337498159Accounting 26th Edition by Carl Warren ,Jim Reeve ,Jonathan Duchac
Edition 26ISBN: 978-1337498159 Exercise 38
If the effect of the debit portion of an adjusting entry is to increase the balance of an asset account, which of the following statements describes the effect of the credit portion of the entry
a. Increases the balance of a revenue account.
b. Increases the balance of an expense account.
c. Increases the balance of a liability account.
a. Increases the balance of a revenue account.
b. Increases the balance of an expense account.
c. Increases the balance of a liability account.
Explanation
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It would increase the balance ...
Accounting 26th Edition by Carl Warren ,Jim Reeve ,Jonathan Duchac
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