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Wayne Co. received a bill from Warriors Work for $14,500. They paid $5,000 on receipt of the bill and agreed to pay the remainder
Wayne Co. received a bill from Warriors Work for $14,500. They paid $5,000 on receipt of the bill and agreed to pay the remainder by the end of the month. This transaction decreases assets, liabilities and stockholder's equity. O increases liabilities; decreases assets and stockholders' equity. increases assets and liabilities. has no effect on the basic accounting equation.
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