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What would be the direction of the effect of the transaction

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Reference no: EM132960884

Problem 1: What would be the direction of the effect of the following transactions on the following ratios ( + for increase, - for decrease)? Consider each item independently. (Select "NE" if there is no effect.)

a. Repaid principal of $2,000 on a long-term note payable with the bank.

b. Recorded rent expense of $100 paid for in cash.

Reference no: EM132960884

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