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When a company purchases an asset in exchange for a promise to pay later, the company records _ _ _ _ _ _ . a
When a company purchases an asset in exchange for a promise to pay later, the company records a decrease in a liability account an increase in a liability account a decrease in an asset account an increase in a stockholders' equity account
When a company purchases an asset in exchange for a promise to pay later, the company records
a decrease in a liability account
an increase in a liability account
a decrease in an asset account
an increase in a stockholders' equity account
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