Multiple Choice
If the effect of the credit portion of an adjusting entry is to increase the balance of a revenue account, which of the following describes the effect of the debit portion of the entry?
A) increases the balance of a contra revenue account
B) decreases the balance of an asset account
C) increases the balance of a stockholders' equity account
D) decreases the balance of a liability account
Correct Answer:
Verified
Correct Answer:
Verified
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