If the effect of the credit portion of an adjusting entry is to increase the balance of a liability account, which of the following describes the effect of the debit portion of the entry?
A. increases the balance of an expense account
B. increases the balance of an asset account
C. decreases the balance of an owner's equity account
D. increases the balance of a contra asset account
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Home » Business » If the effect of the credit portion of an adjusting entry is to increase the balance of a liability account, which of the following describes the effect of the debit portion of the entry? A. increases the balance of an expense account B.