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At the end of the current accounting period, Ringgold Co. recorded depreciation of $15,000 on its equipment. The effect of this entry on the company's
At the end of the current accounting period, Ringgold Co. recorded depreciation of $15,000 on its equipment. The effect of this entry on the company's balance sheet is to decrease:
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assets and increase liabilities.
owners' equity and decrease assets.
assets and increase owners' equity.
owners' equity and increase liabilities.
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