An Accountant Has Debited an Asset Account for $1400 and Credited

question 118

Multiple Choice

An accountant has debited an asset account for $1400 and credited a liability account for $500. What can be done to complete the recording of the transaction?

• A) Nothing further must be done.
• B) Debit an owner's equity account for $900.
• C) Debit another asset account for $900.
• D) Credit a different asset account for $900.

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Definitions:

Harmful Substances

Substances that are dangerous to the environment or health of living organisms.

Circulatory System

The body system responsible for the transport of blood, nutrients, gases, and wastes, helping to maintain homeostasis within organisms, particularly in vertebrates.

Transmissible Disease

Diseases that can be spread from person to person or through animals, often caused by pathogens such as bacteria, viruses, or parasites.

Hazardous Chemical

A substance that poses a potential risk to health, property, or the environment due to its chemical nature.