Assume that Fossil paid expenses totaling $35,000. How does this transaction affect Fossils accounting equation? a. Increases
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Assume that Fossil paid expenses totaling $35,000. How does this transaction affect Fossil's accounting equation?
a. Increases assets and decreases liabilities
b. Increases both assets and owners' equity
c. Decreases assets and increases liabilities
d. Decreases both assets and owners' equity
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