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Title: Murphy Corporation had originally purchased land for $38,000. It later sold it for $38,000 in cash. ... Post by: H3Ko on Aug 28, 2016 Murphy Corporation had originally purchased land for $38,000. It later sold it for $38,000 in cash. Which of the following is true of the effect of the sale of land on the accounting equation?
A) assets increase by $38,000; equity increases by $38,000 B) the amount of total assets remains the same C) assets increase and liabilities decrease by $38,000 D) assets and equity increase by $76,000 Title: Re: Murphy Corporation had originally purchased land for $38,000. It later sold it for $38,000 in ... Post by: Tanks on Aug 28, 2016 Content hidden
Title: Re: Murphy Corporation had originally purchased land for $38,000. It later sold it for $38,000 in cash. ... Post by: H3Ko on Oct 12, 2016 Really appreciate your help. Sorry for taking so long to thank you, you deserve the recognition.
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