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When a company buys equipment for $170,000 and pays for one half in cash and the other one half is financed by a note payable,

When a company buys equipment for $170,000 and pays for one half in cash and the other one half is financed by a note payable, which of the following are the effects on the accounting equation?

Total assets increase $170,000.

Total liabilities decrease $85,000.

Total liabilities increase $170,000.

Total assets increase $85,000.

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