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The accountant for InstaChat Company accrued at the end of the period $50,000 in utilities expense incurred but not yet paid (i.e., it will be

The accountant for InstaChat Company accrued at the end of the period $50,000 in utilities expense incurred but not yet paid (i.e., it will be paid in the following period). The affect of this adjustment is a(n) increase in assets and increase in expenses decrease in assets and increase in expenses increase in liabilities and increase in expenses increase in assets and decrease in liabilities O increase in liabilities and increase in revenues

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