Which one of the following changes describes the receipt of $4,000 from the issuance of a long-term note payable?
A) Assets and shareholders' equity increase by $4,000.
B) Assets and shareholders' equity decrease by $4,000.
C) Assets and liabilities increase by $4,000.
D) Assets and liabilities decrease by $4,000.
Correct Answer:
Verified
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A)is increased with a credit.
B)ultimately
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