The following transaction has been recorded in the general journal interest expense150 interest payable 150 how will

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The following transaction has been recorded in the general journal interest expense150 interest payable 150 how will this transaction affect the company's financial statements after it is posted to the ledger accounts.

decreases total liabilities

increases retained earnings

decreases total assets

decrease stockholders equity

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Financial Reporting and Analysis Using Financial Accounting Information

ISBN: 978-1439080603

12th Edition

Authors: Charles H Gibson

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Posted Date: Oct 06, 2020 11:17 AM

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The following transaction has been recorded in the general journal interest expense150 interest payable 150 how will

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Following Journal Entries has been passed Interest Expenses Debit 150 To Interest Pay... View the full answer

Financial Reporting and Analysis Using Financial Accounting Information

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