The following is a correct journal entry: 
What is this journal entry recording?
A) An increase in an asset and an increase in owners' equity.
B) An increase in an asset and a decrease in owners' equity.
C) An increase in an asset and an increase in a liability.
D) An increase in owners' equity and a decrease in assets.
E) A decrease in an asset and a decrease in owners' equity.
Correct Answer:
Verified
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