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  3. 8. fashions by francine bought a new sewing machin

8. Fashions by Francine bought a new sewing machine for $1,200. Francine paid $400 as...

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Accounting

8.

Fashions by Francine bought a new sewing machine for $1,200. Francine paid $400 as a cash down payment and will pay the balance in 20 days. Total assets increased by $800.

true or false

9. An expense is reported on the income statement when an owner withdraws cash for personal use.

true or false

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