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Abbie's daycare purchased a new vehicle for its business. The vehicle cost $56,000 and was acquired with 25% cash down and the rest as a

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Abbie's daycare purchased a new vehicle for its business. The vehicle cost $56,000 and was acquired with 25% cash down and the rest as a note payable due in 12 months. This transaction would result in: a. cash to decrease by $14,000 O b. liabilities to decrease by $42,000 O c. equity to increase by $56,000 O d. none of the available choices

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