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Home Q & A Board Other Fields Homework Help Business Accounting
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keegan o keegan o
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3 years ago
...on the balance sheet, and income statement by stating whether assets, liabilities, owner's equity, revenue, expense, and net income are understated, overstated, or not affected. + Can one explain specifically on the meaning of understated, overstated, or not affected accounting terms, would like a explanation, thanks.
1. The purchase of office supplies on account for $1,730 was recorded as a debit to equipment of $1,370 and a credit to Accounts Payable of $1,370.
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#1
2 years ago
Did you get the answer? I need it now Frowning Face
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