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

question 80

Multiple Choice

An accountant has debited an expense account for $1,000 and credited an asset account for $500. Which of the following would be a correct way to complete the recording of the transaction?

• A) Debit an asset account for $500.
• B) Credit a liability account for $500.
• C) Debit an owner's equity account for $500.
• D) Debit a liability account for $500.

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