Flake Company accepted a check from Ramos Company as payment for services rendered by Flake Company. Later Flake's bank statement revealed that Ramos' check was an NSF check. Recognizing the NSF check on Flake's books would act to:
a. Decrease total assets
b. Decrease total owners' equity
c. Both a. and b.
d. Have no effect on Total Assets
d
Business
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