$200,000
Question 10. Question :
A credit is used to record:
An increase in an expense account
An increase in an asset account
An increase in an unearned revenue
account
A decrease in a revenue account
A decrease to retained earnings
Question 11. Question :
Apatha Company has assets of
$600,000, liabilities of $250,000 and equity of $350,000. It
buys office equipment on credit for $75,000. The effects of
this transaction include:
Assets increase by $75,000 and
expenses increase by $75,000
Assets increase by $75,000 and
expenses decrease by $75,000
Liabilities increase by $75,000 and
expenses decrease by $75,000