Question
The entry to record the borrowing of cash by issuing a note was recorded with a debit to Cash and a credit to Notes Receivable.
The entry to record the borrowing of cash by issuing a note was recorded with a debit to Cash and a credit to Notes Receivable. The effect of recording this entry causes:
stockholders' equity to be understated.
assets to be understated.
liabilities to be overstated.
stockholders' equity to be overstated.
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Certified Internal Auditor CIA Practice Of Internal Auditing Part 2- 2019
Authors: Muhammad Zain
1st Edition
1093798459, 978-1093798456
