Multiple Choice
Stephanie purchased $10,000 of new electronic equipment for her DJ Company on account. The effect on the basic accounting equation was to
A) decrease Cash $10,000 and increase Equipment $10,000.
B) increase Equipment $10,000 and increase Accounts Payable $10,000.
C) decrease Cash $10,000 and increase Accounts Payable $10,000.
D) increase Cash $10,000 and increase Equipment $10,000.
Correct Answer:
Verified
Correct Answer:
Verified
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