QUESTION 2Match each transaction with the most likely effect it has on Retained Earnings.A. IncreaseV Received interest on a savings account - not previously accrued.B. No effectPaid postage to ship a package.C.DecreaseReceived payment from a customer on account.Recorded a loss on sale of plant assets.Recorded an internally-developed patent.Sold merchandise on account.Paid cash dividends.

Name: QUESTION 2Match each transaction with the most likely effect it has o
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Description: QUESTION 2Match each transaction with the most likely effect it has on Retained Earnings.A. IncreaseV Received interest on a savings account - not previously accrued.B. No effectPaid postage to ship a package.C.DecreaseReceived payment from a custom

Business

Accounting

QUESTION 2 Match each transaction with the most likely effect it has on Retained Earnings. Received interest on a savings account - not previously accrued. A. Increase Paid postage to ship a package. B. No effect Received payment from a customer on account. C. Decrease v Recorded a loss on sale of plant assets. Recorded an internally-developed patent. Sold merchandise on account. Paid cash dividends.

QUESTION 2 Match each transaction with the most likely effect it has on Retained Earnings. Received interest on a savings account - not previously accrued. A. Increase Paid postage to ship a package. B. No effect Received payment from a customer on account. C. Decrease v Recorded a loss on sale of plant assets. Recorded an internally-developed patent. Sold merchandise on account. Paid cash dividends.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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