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(CLO1) A business paid a payment to a creditor of an amount owed. The effect of the transaction on the accounting equation was to __________.

(CLO1) A business paid a payment to a creditor of an amount owed. The effect of the transaction on the accounting equation was to __________. Group of answer choices increase an asset, increase a liability decrease an asset, decrease a liability increase an asset, decrease another asset increase an asset, increase stockholders' equity

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