Exodus Company buys a $900 machine on credit. This transaction will affect the: a. income statement only.

Question:

Exodus Company buys a $900 machine on credit.

This transaction will affect the:

a. income statement only.

b. balance sheet only.

c. income statement and retained earnings statement only.

d. income statement, retained earnings statement, and balance sheet.

(SO 7)

(SO 8)

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