On the last day of the period, Ahmed Islamic Finance Training buys a computer for $2,000 on

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On the last day of the period, Ahmed Islamic Finance Training buys a computer for $2,000 on credit. In what manner does this transaction affect the accounting equation?

a. Office Equipment increases and Cash decreases.

b. Office Equipment increases and Accounts Payable decreases.

c. Office Equipment increases and Accounts Payable increases.

d. Assets increases and Liabilities and Owners’ Equity increases.

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Related Book For  book-img-for-question

Principles Of Islamic Accounting

ISBN: 9781119023296

1st Edition

Authors: Nabil Baydoun, Maliah Sulaiman, Roger J. Willett, Shahul Ibrahim

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