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  • Feb 18, 2009, 08:27 AM
    FaFa2212
    Adjusting Entries
    Which of the following pairs of accounts could not appear in the same adjusting entry?
  • Feb 18, 2009, 01:50 PM
    pready

    An adjusting entry usually affects one Balance sheet account and one Income Statement account.

    An example: Depreciation is Debit Depreciation Expense (Income Statement Account)
    Credit Accumulated Depreciation (Balance Sheet Account)

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