An accountant has debited an account for $3,500 and credited a liability account for $2,000. Which of the following would be an incorrect way to…

An accountant has debited an account for $3,500 and credited a liability account for $2,000. Which of the following would be an incorrect way to complete the recording of this transaction: A) Credit another asset account for $1,500. B) Credit another liability account for $1,500. C) Debit another asset account for $1,500. D) Credit the owner’s capital account for $1,500.

Ans.An incorrect way to complete the recording of this transaction isC) Debit another asset account for $1,500.As debiting another asset account would keep the entry incomplete. The debits in…

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