$4$

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.