Question
Groro co. Bills a AClient $62,000 for services provided and agrees to accept the following three items in fu Groro Co. bills a and(3) to
Groro co. Bills a AClient $62,000 for services provided and agrees to accept the following three items in fu Groro Co. bills a and(3) to assume responsibility for payment: (1) $10,000 cash, (2) computer equipment worth $80,000, to record this transacti $28,000 note payable related to the computer equipment. The entry Groro makes includes which one or more of the following?
a. $28,000 increase in a liability account
d. $62,000 increase in an asset account
e. $62,000 increase in a revenue account
b. $10,000 increase in the Cash account
f-$62,000 increase in an equity account
c. $10,000 increase in a revenue account
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