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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