When a company buys equipment for $150,000 and pays for one third in cash and the other two thirds is financed by a note payable,which of the following are the effects on the accounting equation?
A) Total assets increase $150,000.
B) Total liabilities increase $150,000.
C) Total liabilities decrease $50,000.
D) Total assets increase $100,000.
Correct Answer:
Verified
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