Darwin Services purchased furniture costing $12,000, paid $5,000 in cash, and signed a 12% interest-bearing note payable for the balance. The effect of this transaction on the Cash and Furniture accounts is

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The Answer of Darwin Services purchased furniture costing $12,000, paid $5,000 in cash, and signed a 12% interest-bearing note payable for the balance. The effect of this transaction on the Cash and Furniture accounts is

Darwin Services Purchased Furniture Costing $12,000, Paid $5,000 in Cash