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The Following Entry Is Taken from the Journal of a Merchandising

question 76

Multiple Choice

The following entry is taken from the journal of a merchandising company: The following entry is taken from the journal of a merchandising company:   What is the effect of this entry on the company's financial statements? A) Assets and stockholders' equity increase. B) Assets and liabilities increase. C) Assets and stockholders' equity decrease. D) Assets decrease and stockholders' equity increases. What is the effect of this entry on the company's financial statements?


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