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Miss Lewis, the owner, takes $21,000 from a personal bank account and puts the money in the business checking account. Required: What is the effect
Miss Lewis, the owner, takes $21,000 from a personal bank account and puts the money in the business checking account.
Required:
What is the effect of thistransactionon individualassetaccounts, individualliabilityaccounts, and theOwner's Equityaccount?
Check all that apply.
An asset account increases.
An asset account decreases.
A liability account increases.
A liability account decreases.
Owner's Equity increases.
Owner's Equity decreases.
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