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Transaction: Hornet Co . pays balance due of $ 4 , 1 0 0 on tools. Required: For the transaction above, complete the following: (
Transaction: Hornet Co pays balance due of $ on tools. Required: For the transaction above, complete the following: a Select the accounts that are affected there will be at least twob Are the selected accounts increased or decreased? What is the dollar amount of change in the accounts? d If Retained Earnings is selected, choose the reason that it has changed. Account Which accounts are affected? Is the account Increased or decreased? What is the amount of transaction? Why has Retained Earnings changed? Increase Cash Decrease Increase Accounts Receivable Decrease Increase Supplies Decrease Increase Tools Decrease Increase Accounts Payable Capital Stock Retained Earnings Continue Decrease Increase Decrease Increase Choose One Decrease
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