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If a company purchases equipment costing $4,900 on credit, the effect on the accounting equation would be: Multiple Choice Assets increase $4,900 and liabilities decrease
If a company purchases equipment costing $4,900 on credit, the effect on the accounting equation would be:
Multiple Choice
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Assets increase $4,900 and liabilities decrease $4,900.
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Equity decreases $4,900 and liabilities increase $4,900.
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One asset increases $4,900 and another asset decreases $4,900.
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Assets increase $4,900 and liabilities increase $4,900.
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Equity increases $4,900 and liabilities decrease $4,900.
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