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QUESTION ANSWER Smith Decorators purchased office equipment on account for $ 3 , 0 0 0 . Assets increase and Liabilities increase. How would this
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Smith Decorators purchased office equipment on account for $
Assets increase and Liabilities increase.
How would this transaction affect the accounting equation?
Assets increase and Equity decreases.
Assets increase and Liabilities decrease.
Assets increase and Equity increases.
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