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When a company buys equipment for $155,000 and pays for one half...

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Question

Accounting

When a company buys equipment for $155,000 and pays for one half in cash and the other one half is financed by a note payable, which of the following are the effects on the accounting equation?
Multiple Choice
Total assets increase $155,000.
Total liabilities increase $155,000.
Total liabilities decrease $77,500.
Total assets increase $77,500.

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