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How Will the Following Adjusting Journal Entry Affect the Accounting

Question 27

Multiple Choice

How will the following adjusting journal entry affect the accounting equation? How will the following adjusting journal entry affect the accounting equation? A) increase assets, increase revenues B) increase liabilities, increase revenues C) decrease liabilities, increase revenues D) decrease liabilities, decrease revenues


A) increase assets, increase revenues
B) increase liabilities, increase revenues
C) decrease liabilities, increase revenues
D) decrease liabilities, decrease revenues

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