Are the following possibilities conceivable in an entry involving only one debit and one credit? Why? a.

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Are the following possibilities conceivable in an entry involving only one debit and one credit? Why?

a. Increase a liability and increase an expense.

b. Increase an asset and decrease a liability.

c. Increase a revenue and decrease an expense.

d. Decrease an asset and increase another asset.

e. Decrease an asset and increase a liability.

f. Decrease a revenue and decrease an asset.

g. Decrease a liability and increase a revenue. pg85

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Accounting A Business Perspective

ISBN: 9780075615859

7th Edition

Authors: Roger H. Hermanson, James Don Edwards, Michael W. Maher

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