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  3. 4 king 45, inc. purchased a machine using an inst

4 King 45, Inc. purchased a machine using an installment loan. When King 45...

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Accounting

4
King 45, Inc. purchased a machine using an installment loan. When King 45 records a monthly payment on an installment note, what happens?
Multiple Choice
Liabilities increase, expenses increase, and assets increase.
Liabilities decrease, expenses decrease, and assets decrease.
Liabilities decrease, expenses increase, and agsets increase.
Liabilities increase, expenses increase, and assets decrease.
Liabilities decrease, expenses increase, and assets decrease.
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