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Your Company paid $5,000 cash for salary expenses. Which of the following choices accurately reflects how this event would affect the company's financial statements?
Your Company paid $5,000 cash for salary expenses. Which of the following choices accurately reflects how this event would affect the company's financial statements? Cash flows Assets Liabilities, OA -$5,000 Owner's Equity -$5,000 Revenue Expenses Net Income +$5,000 $5,000 O Cash Owner's Net Assets Liabilities Revenue Expenses) flows Equity Income JA -$5,000 -$5,000 +$5,000 $5,000 Cash Assets Liabilities flows Owner's Equity Revenue Expenses Income Net FA +$5,000 +$5,000 O Cash Assets Liabilities. flows Owner's Equity Net Revenue Expenses Income +$5,000 $5,000 +$5,000 $5,000
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