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On March 31, 2023, Levitt Enterprises owed $39,546 to the United States Treasury for employee and employer payroll taxes withheld and incurred during the month.
On March 31, 2023, Levitt Enterprises owed $39,546 to the United States Treasury for employee and employer payroll taxes withheld and incurred during the month. Which of the following scenarios describes the financial statement effects that will occur when Levitt Enterprises remits $39,546 to the United States Treasury on April 5, 2023? B D Increase cash by $39,546 and decrease liabilities by $39,546 Increase expenses by $39,546 and decrease cash by $39,546 Decrease cash by $39,546 and decrease liabilities by $39,546 Decrease cash by $39,546 and increase liabilities by $39,546
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