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When an expense is incurred and recorded, what needs to happen at the same time for the accounting equation to balance? An increase in assets

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When an expense is incurred and recorded, what needs to happen at the same time for the accounting equation to balance? An increase in assets or a decrease in liabilities. A decrease in assets or an increase in liabilities. A decrease in liabilities. An increase in assets. Question 10 (1 point) A business has performed a service but has not yet received payment from the customer. What is the correct journal entry? debits Service Revenue and credits Accounts Payable. debits Service Revenue and credits Accounts Receivable. No entry is required. debits Accounts Receivable and credits Service Revenue

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