Multiple Choice
Aashish Company had a transaction that caused a $120,000 decrease in both assets and liabilities. This transaction could have been a(n) :
A) Purchase of office equipment for $162,000, paying $42,000 cash and issuing a note payable for the balance
B) Investment of $120,000 cash in the business by the stockholders
C) Purchase of office equipment for $120,000 cash
D) Repayment of a $120,000 bank loan
Correct Answer:
Verified
Correct Answer:
Verified
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