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Fred Jones, the sole owner of a business, withdraws cash for his personal use. How does this transaction affect the accounting equation? O A The

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Fred Jones, the sole owner of a business, withdraws cash for his personal use. How does this transaction affect the accounting equation? O A The assets decrease and equity decreases OB. The assets increase and liabilities decrease OC. The assets decrease and equity increases OD. The assets, liabilities, and equity remain the same

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