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Fast2F Fast2F
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6 years ago
A transaction completed by Norton Company caused a $4,000 increase in both the total assets and the total liabilities. This transaction could have been:
A) purchase of office equipment, paying $4,000 cash, and $8,000 on account.
B) purchase of office equipment for $12,000, paying $8,000 cash, with the rest on account.
C) investment by the owner of an additional $4,000.
D) a loan of $5,000, on a $9,000 purchase of equipment with $4,000 down payment.
Textbook 
College Accounting: A Practical Approach

College Accounting: A Practical Approach


Edition: 13th
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LaffioLaffio
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6 years ago
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