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QUESTION 9 What net effect is there on a retail store's accounting equation when merchandise sold for a profit is returned by customers? a .
QUESTION
What net effect is there on a retail store's accounting equation when merchandise sold for a profit is returned by customers?
a Assets and stockholders' equity increase:
b Assets decrease and liabilities increase.
c Stockholders' equity decreases and liabilities increase.
d None of the above.
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Financial Accounting
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
6th Edition
9780470128848
