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Aashish Company had a transaction that caused a $40,000 decrease in both assets and liabilities. This transaction could have been a(n): Select one: A. Purchase
Aashish Company had a transaction that caused a $40,000 decrease in both assets and liabilities. This transaction could have been a(n):
Select one:
A. Purchase of office equipment for $54,000, paying $14,000 cash and issuing a note payable for the balance
B. Investment of $40,000 cash in the business by the stockholders
C. Purchase of office equipment for $40,000 cash
D. Repayment of a $40,000 bank loan
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