Marvin Company negotiated the purchase of a new building for $330,000. Marvin paid a $140,000 down payment and will pay off the remainder over 7 years. What effect does this transaction have on the accounting equation?

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Marvin Company negotiated the purchase of a new building for $330,000. Marvin paid a $140,000 down payment and will pay off the remainder over 7 years. What effect does this transaction have on the accounting equation? a. $330,000 net increase in assets and $190,000 increase in liabilities b. $190,000 net increase in assets and $190,000 increase in liabilities c. $140,000 net increase in assets and $140,000 increase in liabilities d. $140,000 net decrease in assets and $190,000 decrease in liabilities Marvin Company negotiated the purchase of a new building for $330,000. Marvin paid a $140,000 down payment and will pay off the remainder over 7 years. What effect does this transaction have on the accounting equation? a. $330,000 net increase in assets and $190,000 increase in liabilities b. $190,000 net increase in assets and $190,000 increase in liabilities c. $140,000 net increase in assets and $140,000 increase in liabilities d. $140,000 net decrease in assets and $190,000 decrease in liabilities