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Morrison Company experienced a business event that had the following effect on its accounting equation. Assets = Liabilities + Common Stock + Retained Earnings (25,000) (25,000) NA NA Which of the events would have caused this effect?

Respuesta :

The event that should have an effect is due to pay off debt.

The following information should be considered:

  • If the debt is paid so here the debt should be debited and cash should be credited.
  • As debt contains the normal credit balance so it is decreased and the cash contains the normal debit balance so it also decreased.

Therefore we can conclude that The event that should have an effect is due to pay off debt.

Learn more about the debt here: brainly.com/question/12198015

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