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In Year 1, Dale Company incurred $4,000 of utility expense on account. Dale paid cash for these expenses in Year 2. Which of the following
In Year 1, Dale Company incurred $4,000 of utility expense on account. Dale paid cash for these expenses in Year 2. Which of the following shows how paying cash for utility expense will affect Dale's accounting equation in Year 2? Stockholders' Equity Balance Sheet Assets Liabilities + Accounts Accounts Common Cash Receivable Payable Stock A. (4,000) (4,000) B. 4,000 (4,000) C. (4,000) D. (4,000) Multiple Choice Option A Option B Option C Retained Earnings (4,000) (4,000)
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