An Accountant Has Debited an Asset Account for $500 and Credited

question 10

Multiple Choice

An accountant has debited an asset account for $500 and credited a revenue account for $1,000. What can be done to complete the recording of the transaction?

• A) Debit another asset account for $500.
• B) Debit a shareholders' equity account for $500.
• C) Nothing further must be done.
• D) Credit a different asset account for $500.