Question
An accountant has debited an asset account for $1,200 and credited a liability account for $500. What can be done to complete the recording of
An accountant has debited an asset account for $1,200 and credited a liability account for $500. What can be done to complete the recording of the transaction?
A.Nothing further must be done.
B.Debit an owner's equity account for $700.
C.Debit another asset account for $700.
D.Credit a different asset account for $700.
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Financial Accounting
Authors: Jamie Pratt, Michael F Peters
11th Edition
1119745322, 978-1119745327
