What would be the direction of the effect of the following transactions on the following ratios (+

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What would be the direction of the effect of the following transactions on the following ratios (+ for increase, − for decrease, and NE for no effect)? Consider each item independently.
a. Repaid principal of $2,000 on a long-term note payable with the bank.
b. Recorded rent expense of $100 paid for in cash.

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Financial Accounting

ISBN: 9781264229734

11th Edition

Authors: Robert Libby, Patricia Libby, Frank Hodge

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