Question 9 of 10
How should an annual business license fee be recorded in a journal entry?
A....
Question 9 of 10
How should an annual business license fee be recorded in a journal entry?
A. As a credit, because it is an increased liability
B. As a credit, because it creates equity
C. As a debit, because it is an increased expense
D. As a debit, because it is a loss
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Answers: 3
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