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An Accountant Has Debited an Asset Account for $1,000 and Credited

Question 88

Multiple Choice

An accountant has debited an asset account for $1,000 and credited a liability account for $500. What can be done to complete the recording of the transaction?


A) Nothing further must be done.
B) Debit an owner's equity account for $500.
C) Debit another asset account for $500.
D) Credit a different asset account for $500.

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