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What is impact on expanded accounting equation for echo inc

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Reference no: EM132817721

Problem 1: Echo, Inc. received a bill at the end of November from the utility company for electricity used in their business during November. The bill was properly recorded in November. When Echo pays the bill in December, what is the impact on the expanded accounting equation?

Option 1: Increase expenses

Option 2: Decrease expenses

Option 3: Decrease current liabilities

Option 4: Decrease long term liabilities

Reference no: EM132817721

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