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Russ buys his wife a valuable painting for $20,000. He purchades it using $15,000 from his savings and a $5,000 loan. How does this transaction

Russ buys his wife a valuable painting for $20,000. He purchades it using $15,000 from his savings and a $5,000 loan. How does this transaction affect Russ' balance sheet?

A. His assets increase

B. His liabilities increase

C. His net worth stays the same

D. Both A and B

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