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Morrison Company experienced a business event that had the following effect on its accounting equation. Assets = Liabilities + Common Stock + Retained Earnings (

Morrison Company experienced a business event that had the following effect on its accounting equation.

Assets

=

Liabilities

+

Common Stock

+

Retained Earnings

(25, 000) (25, 000)

NA NA

Which of the events would have caused this effect?

Multiple Choice

Incurred cash expense

Paid a cash dividend

Issued common stock for cash

Paid off debt

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