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Ogden Company purchased a building. Ogden paid part of the purchase price in cash and...

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Accounting

Ogden Company purchased a building. Ogden paid part of the purchase price in cash and signed a note payable agreeing to pay the remainder in the future.
What is the effect of this transaction on the accounting equation?
Cash UP, Building DOWN, Note Payable DOWN
Cash DOWN, Building UP, Note Payable UP
Cash DOWN, Building DOWN, Note Payable DOWN
Cash DOWN, Building DOWN, Note Payable UP

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