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When a company buys equipment for $151,000 and pays for one fourth in cash and the other three fourths is financed by a note payable, which of the following are the effects on the accounting equation? A. Total assets increase $151,000. B. Total liabilities increase $151,000. C. Total assets increase $113,250. D. Total liabilities decrease $37,750.

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Accounting Basics, Accounting

Category:- Accounting Basics
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