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Hammond Company borrowed $20,000 from Neptune Bank. How does this transaction affect the accounting equation? Assets decrease and equity decreases. Assets increase and equity increases.
| Hammond Company borrowed $20,000 from Neptune Bank. How does this transaction affect the accounting equation? |
Assets decrease and equity decreases.Assets increase and equity increases.Assets decrease and liabilities decrease.Assets increase and liabilities increase.
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Financial Accounting Information for Decisions
Authors: John Wild
7th edition
78025893, 978-0078025891
