An Accountant Has Debited an Asset Account for $1,000 and Credited

question 150

Multiple Choice

An accountant has debited an asset account for $1,000 and credited an expense account for $2,000.Which of the following would be the correct way to complete the recording of the transaction?

• A)Credit an asset account for $2,000.
• B)Credit a liability account for $1,000.
• C)Credit a shareholders' equity account for $1,000.
• D)Debit a shareholders' equity account for $1,000.