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goji.go goji.go
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Posts: 5977
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9 years ago
John pays cash to buy auto insurance for a three-year period starting January 1.What is the accounting effect of this transaction on John's records when he makes the payment?
      a.   An asset increases and an asset decreases
      b.   An asset increases and a liability increases
      c.   Equity increases and a liability decreases
      d.   An asset decreases and equity decreases
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Diesel
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f_zah1f_zah1
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#1
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9 years ago
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goji.go Author
wrote...
#2
9 years ago
Thanks so much f_zah1.

You were correct Smiling Face with Open Mouth
Diesel
wrote...
#3
9 years ago
You're very welcome!
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