Simpson auto body repair purchased 20000 of machinery the, Ask an Expert

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Simpson Auto Body Repair purchased $20,000 of Machinery. The company paid $8,000 in cash at the time of the purchase and signed a promissory note for the remainder to be paid in four monthly installments. How will this transaction affect the accounting equation?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9975066

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