A Bookkeeper Has Debited an Asset Account for $3,500 and Credited

question 152

Multiple Choice

A bookkeeper has debited an asset account for $3,500 and credited a liability account for $2,000.Which of the following would be an incorrect way to complete the recording of this transaction:

• A)Credit another asset account for $1,500.
• B)Credit another liability account for $1,500.
• C)Credit a revenue account for $1,500.
• D)Credit the common stock account for $1,500.
• E)Debit another asset account for $1,500.

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Definitions:

REM Rebound

The phenomenon where a person experiences increased amounts of REM sleep after being deprived of REM sleep in earlier nights.

REM Sleep

A phase of sleep characterized by rapid eye movement, during which vivid dreams commonly occur.

Dreaming

The experience of imagined images, sounds, or other sensations during sleep, particularly during REM phases, reflecting complex psychological processes.

Tropical Climates

Climate zones characterized by consistently high temperatures throughout the year, with significant rainfall. They are typically found near the equator.