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Which of the following affects both the balance sheet and the income statement? and why? (A) Purchase of inventory (B) Retirement of a fully depreciated
Which of the following affects both the balance sheet and the income statement? and why?
(A) Purchase of inventory
(B) Retirement of a fully depreciated machine
(C) Collection of accounts receivable
(D) Amortization of prepaid insurance correct
(E) Declaration of a cash dividend
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Mastering Accounting Skills
Authors: Margaret Nicholson
3rd Edition
1403992703, 978-1403992703
