If a transaction has the effect of decreasing an asset, is the decrease recorded as a debit

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If a transaction has the effect of decreasing an asset, is the decrease recorded as a debit or as a credit? If the transaction has the effect of decreasing a liability, is the decrease recorded as a debit or as a credit?

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Financial Accounting

ISBN: 9780256091939

5th Edition

Authors: Kermit D. Larson, Paul B. W. Miller

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Question Posted: Jun 11, 2024 12:00 AM

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If a transaction has the effect of decreasing an asset, is the decrease recorded as a debit

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Financial Accounting

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