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A transaction has been recorded in the journal of Davis Company as follows: Interest Expense Interest Payable 800 800 Which of the following describes the

A transaction has been recorded in the journal of Davis Company as follows: Interest Expense Interest Payable 800 800 Which of the following describes the effect of this transaction on the company's financial statements? Multiple Choice Decreases Liabilities Increases Liabilities Increases Stockholders' Equity Decreases Assets >image text in transcribed

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