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Baumbach Company recently purchased an equipment for $8,000 by paying $3,000 in cash and signing a note for the remaining balance. How does this accounting

Baumbach Company recently purchased an equipment for $8,000 by paying $3,000 in cash and signing a note for the remaining balance. How does this accounting transaction influence the total assets of Baumbach Company?

a. Increase total assets by $5,000

b. Increase total assets by $8,000

c. Decrease total assets by $3,000

d. Doesnt influence total assets

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