Question
Xu Company acquired office equipment valued at $4,000 and office supplies valued at $600 by paying cash of $1,300 with the balance on account. The
Xu Company acquired office equipment valued at $4,000 and office supplies valued at $600 by paying cash of $1,300 with the balance on account. The effect of this transaction on the companys accounting equation would be to
Group of answer choices
decrease the cash account by $1,300, increase the accounts payable account by $3,300, increase the office equipment account by $4,000, and increase the office supplies account by $600.
increase the cash account by $1,300, increase the accounts payable account by $3,300, and increase the office equipment account by $4,600.
increase the office equipment account by $4,600, decrease the cash account by $1,300, and decrease the accounts payable account by $3,300.
increase the cash account by $1,300, increase the capital stock account by $3,300, decrease the equipment account by $4,000, and increase the office supplies account by $600.
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