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Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac
Edition 14ISBN: 978-1305653535Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac
Edition 14ISBN: 978-1305653535 Exercise 11
If the effect of the credit portion of an adjusting entry is to increase the balance of a liability account, which of the following statements describes the effect of the debit 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 an asset account.
a. Increases the balance of a revenue account.
b. Increases the balance of an expense account.
c. Increases the balance of an asset account.
Explanation
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It would increase the balance ...
Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac
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