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Multiple Choice

$6$ points

On October $1,$ Hickle Corporation paid a $$71,000$ cash dividend. How is Hickle Corporation's accounting equation effected?

Decrease Assets $$71,000$; Increase Retained Earnings $$71,000$

Increase Assets $$71,000$; Increase Retained Earnings $$71,000$

Increase Assets $$71,000$; Decrease Retained Earnings $$71,000$

Decrease Assets $$71,000$; Decrease Retained Earnings $$71,000$

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