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Transaction: Wood Company paid $290,000 for land purchased. Which two accounts are affected? Choose one Choose one What kind of accounts are they? Choose one

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Transaction: Wood Company paid $290,000 for land purchased. Which two accounts are affected? Choose one Choose one What kind of accounts are they? Choose one Choose one Decrease Increase Decrease Do the account balances Increase or decrease? Increase Debit O Credit Debit Credit Do we debit or credit the accounts

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