Which of the following transactions would increase one asset and decrease another asset?
A)purchasing equipment for cash
B)borrowing money from a bank
C)performing a service and receiving the cash immediately
D)purchasing office supplies on account

Question

Quizplus · Accepted Answer

Purchasing equipment for cash decreases the cash asset while increasing the equipment asset, thus increasing one asset and decreasing another.

Which of the Following Transactions Would Increase One Asset and Decrease