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A company paid employee salaries for the current period of $38,000. What is the net impact of this transaction on net income, assets, and liabilities
A company paid employee salaries for the current period of $38,000. What is the net impact of this transaction on net income, assets, and liabilities in the current period? Net income is unaffected; Assets decrease; Liabilities are unaffected Net income decreases; Assets decrease; Liabilities are unaffected Net income decreases; Assets decrease; Liabilities decrease Net income is unaffected; Assets decrease; Liabilities decrease
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