Assume that Hacienda Realty Co. borrowed $80,000 from Clinton Bank and Trust. In recording the transaction, Hacienda
Question:
(a) How would this error affect the equality of the trial balance?
(b) How would this error affect the income statement, statement of owner's equity, and balance sheet?
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a The equality of the trial balance would not be affected b ...View the full answer
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Related Book For 
Accounting
ISBN: 978-0324401844
22nd Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
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