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Which of the following statements is true about making a journal entry? Debits are always on the left; credits are always on the right Debits
Which of the following statements is true about making a journal entry? Debits are always on the left; credits are always on the right Debits are on the left for assets only; credits are on the right for liabilities only Debits and credits change sides depending on the entry Debits are always on the right; credits are always on the left The following journal entry is made in the general ledger. Cash 10,500 Service revenue 10,500 What does this entry tell us? The company performed a service and was paid $10,500 in cash The company has yet to perform a service, but has been paid $10,500 in cash The company owes $10,500 in cash to a supplier for services performed Not enough information to determine
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