ABC incorporated bought a machine for cash for $80,000. Paid cash $40,000 and issued a note payable for the rest . The effect of this transaction will be : Multiple Choice Cash will increase by $40,000 , Machine asset will increase by $80,000, and Note payable will decrease by $40,000 Revenue will increase by $40,000 , Machine asset will increase by $80,000, and Note payable will increase by $40,000 Expense will increase by $40,000 , Machine asset will increase by $80,000, and Note payable will increase by $40,000 Cash will decrease by $40,000 , Machine asset will increase by $80,000, and Note payable will increase by $40,000