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Problem: Which of the following does not correctly describe the following adjusting journal entry? a. Net assets increase. b. The transaction is an example of an accrual. c. Stockholders' equity is not affected. d. Net income increases.

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Which of the following does not correctly describe the following adjusting journal entry?

a. Net assets increase.

b. The transaction is an example of an accrual.

c. Stockholders' equity is not affected.

d. Net income increases.

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