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If the effect of the credit portion of an adjusting entry is to increase the...

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Accounting

If the effect of the credit portion of an adjusting entry is to increase the balance of a liability account, which of the following describes the effectPrior to an adjusting entry, prepaid expenses have
a. been recorded as expenses and paid
b. been incurred and not yet paid
c. not yet been recorded as expenses and not been paid
d. not yet been recorded as expenses
of the debit portion of the entry?
a. increases the balance of a contra asset account
b. increases the balance of an expense account
c. increases the balance of an asset account
d. decreases the balance of an owner's equity account
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