Joan bought office supplies worth $3,700 for her business. She records this transaction in the Journal of the business by debiting the office supplies account. Which accounting error has Joan committed?
Joan has recorded only one aspect of the transaction. The accounting rule used by accountants is "for every debit, there is a credit.

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Beranek corp has $720,000 of assets, and it uses no debt--it is financed only with common equity. the new cfo wants to employ enough debt to raise the debt/assets ratio to 40%, using the proceeds from borrowing to buy back common stock at its book value. how much must the firm borrow to achieve the target debt ratio? a. $273,600b. $288,000c. $302,400d. $317,520e. $333,396

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