What effect does each of the following items have on net income? a. The owner withdrew cash

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What effect does each of the following items have on net income?

a. The owner withdrew cash from the business.

b. Credit customers paid $3,000 on outstanding balances that were past due.

c. The business bought equipment on account that cost $15,000.

d. The business journalized and posted an adjustment for depreciation of equipment.

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College Accounting Chapters 1-30

ISBN: 978-1259631115

15th edition

Authors: John Price, M. David Haddock, Michael Farina

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Question Posted: Jul 11, 2018 07:49 AM

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What effect does each of the following items have on net income? a. The owner withdrew cash

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College Accounting Chapters 1-30

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