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Flamengo Corporation bought equipment for $150,000 and paid one-third in cash and will pay the other two-thirds next month. What is the effect on the

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Flamengo Corporation bought equipment for $150,000 and paid one-third in cash and will pay the other two-thirds next month. What is the effect on the balance sheet? Total liabilities increase $150,000. Total assets increase $150,000. Total assets increase $100,000. Total liabilities decrease $50,000

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