Solved: If the effect of the credit portion of an adjusting entry, Accounting Basics

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If the effect of the credit portion of an adjusting entry

If the effect of the credit portion of an adjusting entry is to increase the balance of a liability account, which of the following statements describes the effect of the debit portion of the entry?

(a) Increases the balance of an expense account.

(b) Increases the balance of a revenue account.

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Accounting Basics: If the effect of the credit portion of an adjusting entry

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Accounting Basics: If the effect of the credit portion of an adjusting entry

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