Match Each Transaction with Its Effect on the Accounting Equation

question 170

Multiple Choice

Match each transaction with its effect on the accounting equation. Each letter may be used more than once.
-Received payment from a customer on account

• A)Increase assets, increase liabilities
• B)Increase liabilities, decrease owner's equity
• C)Increase assets, increase owner's equity
• D)No effect
• E)Decrease assets, decrease liabilities
• F)Decrease assets, decrease owner's equity

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