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Howard Company experienced an accounting event that is recorded in the following T-accounts: ...

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Question

Accounting

Howard Company experienced an accounting event that is recorded in the following T-accounts:

Accrued Interest Expense Interest Payable
2,700 2,700

Which of the following choices accurately reflects how this event would affect the company's financial statements?

A.
Assets = Liab. + Equity Rev. Exp. = Net Inc. Cash Flow
n/a n/a + OA

B.

Assets = Liab. + Equity Rev. Exp. = Net Inc. Cash Flow
n/a + n/a + n/a

C.

Assets = Liab. + Equity Rev. Exp. = Net Inc. Cash Flow
n/a n/a + FA

D.

Assets = Liab. + Equity Rev. Exp. = Net Inc. Cash Flow
n/a + n/a n/a

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