Complete the following tabulation, indicating the sign of the effect (+ for increase, for decrease, and

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Complete the following tabulation, indicating the sign of the effect (+ for increase, − for decrease, and NE for no effect) of each transaction. Consider each item independently.
a. Recorded sales on account of $300 and related cost of goods sold of $200.
b. Recorded advertising expense of $10 incurred but not paid for.

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Financial Accounting

ISBN: 9781264229734

11th Edition

Authors: Robert Libby, Patricia Libby, Frank Hodge

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