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.