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Which of the following is a true statement?
A. Clients making payments on their accounts receivable will increase assets and increase revenues.
B. An owner's contribution of cash to a company increases liabilities.
C. A cash withdrawal from the company decreases owner's equity.
D. Paying off an electric bill recorded last month as an expense increases assets and decreases accounts payable.
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Answers: 3
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Which of the following is a true statement?
A. Clients making payments on their accounts receivable...
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