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26 A debit to an expense account causes net income to increase and retained earnings to decrease net income and retained eamings to decrease.

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26 A debit to an expense account causes net income to increase and retained earnings to decrease net income and retained eamings to decrease. net income to decrease and owner's equity to increase net income and owner's equity to increase 27. Which of the following accounts would most commonly be classified as a current asset? Land Capital Stock Retained Earnings Accounts Receivable Unearned Revenues

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