Question: adjusting entries affect only expense and asset account Data for an adjusting entry described as accrued taxes, $950 requires a debit to Taxes Expense and

adjusting entries affect only expense and asset account

Data for an adjusting entry described as "accrued taxes, $950" requires a debit to Taxes Expense and a credit to Unpaid Taxes Expense O debit to Retained Earnings and a credit to Taxes Expense O debit to Taxes Payable and a credit to Taxes Expense debit to Taxes Expense and a credit to Taxes Payable

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