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Question 1 The effect of a credit memo on the company's books and the bank's records is to increase an asset on the company's books

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1

The effect of a credit memo on the company's books and the bank's records is to

increase an asset on the company's books and increase a liability on the bank's records

increase an asset on the company's books and increase an asset on the bank's records

decrease an asset on the company's books and decrease a liability on the bank's records

decrease an asset on the company's books and increase a liability on the bank's records

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