Waleska Boat Shop purchased a truck for $$12,000,$ making a down payment of $$5,000$ cash and signing a $$7,000$ note payable due in $60$ days. As a result of this transaction

Total assets increased by $$12,000$

Total liabilities increased by $$7,000$

From the viewpoint of a short$-$term creditor, this transaction makes the business more liquid

This transaction had an immediate effect on the owners' equity in the business