If the effect of the debit portion of an adjusting entry is to increase the balance of
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If the effect of the debit portion of an adjusting entry is to increase the balance of an asset account, which of the following statements describes the effect of the credit 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 a liability account.
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c Increases the balance of a liability account When the debit portion of an ...View the full answer
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Related Book For
Accounting
ISBN: 978-1285743615
26th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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