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x.Hmase help me out! Solution x.Xrong>1. Ramirez Company received their first el

ID: 2433634 • Letter: X

Question

x.Hmase help me out!

Explanation / Answer

x.Xrong>1. Ramirez Company received their first electric bill in the amount of $60 which will be paid next month. How will this transaction affect the accounting equation? (Points: 2)        Increase Liabilities (Accounts Payable) and decrease Owner's Equity (Utilities Expense)        Increase Liabilities (Accounts Receivable) and decrease Owner's Equity (Utilities Expense)        Decrease Assets (Cash) and decrease Liabilities (Accounts Payable)        Decrease Assets (Cash) and decrease Owner's Equity (Utilities Expense)