A company takes a loan from the bank for $200,000. Describe the effects of the transaction above on the accounting equation Assets [Select] Question 2 Liabilities [Select] + Equity [Select] A company pays employees $35,000 for work done during the current period. Describe the effects of the transaction above on the accounting equation Assets [Select] Question 3 Liabilities [Select] + Equity [Select] A company purchases a piece of equipment for $400,000. Describe the effects of the transaction above on the accounting equation Assets [Select] Liabilities [Select] + Equity [Select]