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í Safari File Edit View History Bookmarks Develop Window Help O * ? 91% [4] Sun 5:50 PM Q = ... 0 Amybusinesscourse.com o do Homework 2 stockholders equity - Yahoo Search Results Yahoo S... If the beginning Cash account balance of Rainbow... Chegg Study | Guided Solutions and Study Help ..+ Business Course = Menu O Meredith Milholland - ACCT20653:080-Intro to Accounting-TTH ACCT20653:080-Intro to Accounting-TTH My Subscriptions / Courses / ACCT20653:080-Intro to Accounting-TTH / Financial: Ch 2: Processing Accounting Information / Homework 2 b Financial: Ch 1: Financial Accounting and Business Decisions ASSIGNMENT NAVIGATION b Financial: Ch 2: Processing Accounting Information QUESTION 3 Not complete Marked out of 1.007 Flag question 12215 Support Which of the following is one effect of a purchase of $600 of supplies on credit? 6 7 8 9 10 Financial: Ch 3: Accrual Basis of Business Accounting 11 12 13 Select one: O A. It would increase liabilities by $600 O B. It would decrease liabilities by $600 O C. It would decrease cash assets by $600 0 D. It would decrease retained earnings $600 (M Financial: Ch 4: Understanding Financial Statements 1920 Check Financial: Ch 13: Analysis and Interpretation of Financial Statements 26 27 28 29 30 b Managerial: Ch 1: Overview of Managerial Accounting Previous page Next page Finish attempt ... Save Answers 99 21 EO 6 cili O10 A A O = w P9 UExplanation / Answer
The journal is:
Supplies a/c..Dr$600
To accounts payable.
Hence both assets and liabilities would increase,
Hence the correct option is :it would increase liabilities by $600.
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