Question: Assume a general journal entry only has two lines. If one line contains a debit to a liability account, then in order to balance

Assume a general journal entry only has two lines. If one line

Assume a general journal entry only has two lines. If one line contains a debit to a liability account, then in order to balance the accounting equation, the other line may contain a: (Choose all of the correct answers.) A credit to another liability account A credit to a stockholders' equity account A debit to an expense account A credit to a revenue account A debit to an asset account

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!