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Arrowhead Boat Shop purchased a truck for $12,000, making a down payment of $5000 cash and signing a $7000 note payable due in 60 days

Arrowhead Boat Shop purchased a truck for $12,000, making a down payment of $5000 cash and signing a $7000 note payable due in 60 days A. This transaction had no immediate effect on the owner's equit...

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