If the effect of the debit portion of an adjusting entry is to increase the balance of

Question:

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.

Appendix

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Answer rating: 100% (1 review)

Answered By

Shubhradeep Maity

I am an experienced and talented freelance writer passionate about creating high-quality content. I have over five years of experience working in the field and have collaborated with several renowned companies and clients in the SaaS industry. At Herman LLC, an online collective of writers, I generated 1,000+ views on my content and created journal content for 100+ clients on finance topics. My efforts led to a 60% increase in customer engagement for finance clients through revamping website pages and email interaction. Previously, at Gerhold, a data management platform using blockchain, I wrote and published over 50 articles on topics such as Business Finance, Scalability, and Financial Security. I managed four writing projects concurrently and increased the average salary per page from $4 to $7 in three months. In my previous role at Bernier, I created content for 40+ clients within the finance industry, increasing sales by up to 40%. I am an accomplished writer with a track record of delivering high-quality content on time and within budget. I am dedicated to helping my clients achieve their goals and providing exceptional results.

5.00+ 1+ Reviews 10+ Question Solved

Related Book For book-img-for-question