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The Following Entry Is Taken from the Journal of a Merchandising

question 118

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 accounting equation? A) Assets and equity will decrease. B) Assets will decrease and equity will increase. C) Assets and equity will increase. D) None of these. What is the effect of this entry on the accounting equation?


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