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For the following transaction, identify the type of change that would have occurred in the accounting equation. A bill from advertisement firm was received by
For the following transaction, identify the type of change that would have occurred in the accounting equation.
A bill from advertisement firm was received by the company. It related to an advertisement appearing on TV in the current accounting period. There was no previous record of the charge. The company plans to pay this bill in ten days:
a. An asset increased and another asset decreased.
b. A liability increased and an expense increased.
c. An asset decreased and a liability decreased.
d. An asset decreased and an expense increased.
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