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i Which of the following does not correctly describe the following adjusting journal entry? Account Title Interest receivable Interest revenue Debit Credit x x x

Which of the following does not correctly describe the following adjusting journal entry?

Account Title

Interest receivable

Interest revenue

Debit Credit

x x x

, x

Multiple Choice

Net income increases.

The transaction is an example of an accrual.

Stockholders' equity decreases.

Total assets increase.

7

30

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