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Dazzle Fashion is a clothing retailer. During August, the company completed a series of transactions. For each of the following items, give an example of
Dazzle Fashion is a clothing retailer. During August, the company completed a series of transactions. For each of the following items, give an example of a transaction that has the described effect on Dazzle's accounting equation.
a Increase one asset and decrease another asset.
b Increase an asset and increase stockholders' equity.
c Increase an asset and increase a liability.
d Decrease an asset and decrease stockholders' equity.
e Decrease an asset and decrease a liability.
Borrow money
Purchase of asset on account
d Decrease an asset and decrease stockholders' equity. Select two possible answers.
Examples
Declaration and payment of dividends to stockholders
Expense transaction ex: received and paid utility bill
e Decrease an asset and decrease a liability. Select two possible answers.
i need help figuring out the second example for problem e i already have 'pay a liability' correct
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