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
Related Book For
Financial Reporting and Analysis Using Financial Accounting Information
ISBN: 978-1439080603
12th Edition
Authors: Charles H Gibson
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