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The accounting equation for Ellie Enterprises is as follows: Assets = Liabilities + Stockholders' Equity $120,000 = $60,000 + $60,000 If the company now purchases
The accounting equation for Ellie Enterprises is as follows: Assets = Liabilities + Stockholders' Equity $120,000 = $60,000 + $60,000 If the company now purchases office equipment on account for $10,000, the accounting equation will change to: Assets Liabilities Stockholders' Equity
A. $120,000 = $60,000 + $60,000
B. $130,000 = $60,000 + $70,000
C. $130,000 = $66,000 + $64,000
D. $130,000 = $70,000 + $60,000
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