8. What effect does each of the following items have on net income? a. The owner withdrew...
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8. What effect does each of the following items have on net income?
a. The owner withdrew cash from the business.
b. Credit customers paid $3,000 on outstanding balances that were past due.
c. The business bought equipment on account that cost $15,000.
d. The business journalized and posted an adjustment for depreciation of equipment.
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Related Book For
College Accounting A Contemporary Approach
ISBN: 9781259995156
4th Edition
Authors: M. David Haddock
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