Which statement best describes the effect of this adjusting entry on the company’s accounting…
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An adjusting entry recorded March salary expense that will be paid in April. Which statement best describes the effect of this adjusting entry on the company’s accounting equation at the end of March?
a. Assets are not affected, liabilities are increased, and stockholders’ equity is decreased.
b. Assets are decreased, liabilities are increased, and stockholders’ equity is decreased.
c. Assets are not affected, liabilities are increased, and stockholders’ equity is increased.
d. Assets are decreased, liabilities are not affected, and stockholders’ equity is decreased.
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