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11. Jason Repair Company incurred $1,500 as an advertising expense and promised to pay the advertising agency within 30 days. The company is a sole

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11. Jason Repair Company incurred $1,500 as an advertising expense and promised to pay the advertising agency within 30 days. The company is a sole proprietorship. Which of the following will decrease as a result of this transaction? 12. Montgomery Equipment Rental Company received $1,000 cash from a customer; the amount was owed to the business from the previous month. What is the effect of this transaction on the accounting equation

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