TockTick Industries borrowed $2,500,000 from the bank. The terms of the loan require repayment of the borrowed money over the next 5 years. Which of the following correctly states the impact the transaction has? O Increase in assets and increase in liabilities O Increase in liabilities and increase in expenses O Increase in liabilities and increase in revenues Increase in liabilities and increase in dividends O Decrease in liabilities and increase in revenues O This is not a recordable transaction Clear my choice