On the last day of the period, Ahmed Islamic Finance Training buys a computer for $2,000 on
Question:
On the last day of the period, Ahmed Islamic Finance Training buys a computer for $2,000 on credit. In what manner does this transaction affect the accounting equation?
a. Office Equipment increases and Cash decreases.
b. Office Equipment increases and Accounts Payable decreases.
c. Office Equipment increases and Accounts Payable increases.
d. Assets increases and Liabilities and Owners’ Equity increases.
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The accounting equation is Assets Liabilities Owners Equity When Ahmed Islamic Finance Training buys ...View the full answer
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Related Book For 
Principles Of Islamic Accounting
ISBN: 9781119023296
1st Edition
Authors: Nabil Baydoun, Maliah Sulaiman, Roger J. Willett, Shahul Ibrahim
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