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What is effect of transaction on individual asset accounts

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Question - Effects of a transaction on assets, liabilities, and equity

Miss Cox, the owner, records this week's salary expense for her only employee, $1,100. However, the amount will not actually be paid to the employee until the first of next month.

Required - What is the effect of this transaction on individual asset accounts, individual liability accounts, and the Owner's Equity account?

Reference no: EM132722523

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