Which of the following transactions would increase an asset and increase a liability?
A)payment of an account payable
B)borrowing money from a bank
C)an owner investment of cash into the business
D)purchasing office equipment for cash

Question

Quizplus · Accepted Answer

Borrowing money from a bank increases an asset (cash or bank balance) and simultaneously increases a liability (loan payable or bank loan).

Which of the Following Transactions Would Increase an Asset and Increase