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If the effect of the debit portion of an adjusting entry is

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

(a) Increases the balance of a liability account.

(b) Increases the balance of a revenue account.

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Accounting Basics: If the effect of the debit portion of an adjusting entry is

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Accounting Basics: If the effect of the debit portion of an adjusting entry is

Reference No:- TGS01511747

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