True O False Question 18 1 pts Bruce Manufacturing purchased equipment for $16,000, paying $9,000 cash and executing a $7,000 note payable. The entry for this transaction would result in a Net increase in total assets of $7,000 O Net decrease in total assets of $9,000 O Net increase in total assets of $16,000 O Net increase in total liabilities of $16,000 O None of the above Question 19 1 pts