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Evaluate each of the following transactions in terms of their effect on assets, liabilities, and equity. 1. Buy $15,000 worth of manufacturing supplies on credit

Evaluate each of the following transactions in terms of their effect on assets, liabilities, and equity.

1. Buy $15,000 worth of manufacturing supplies on credit 2. Purchase equipment for $48,000 in cash

What is the net change in Total Liabilities?

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