Match each transaction with its effect on the accounting equation. Each letter may be used more than once.
-Purchased equipment for cash
A)Increase assets, increase liabilities
B)Increase liabilities, decrease owner's equity
C)Increase assets, increase owner's equity
D)No effect
E)Decrease assets, decrease liabilities
F)Decrease assets, decrease owner's equity

Question

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The Answer of Match each transaction with its effect on the accounting equation. Each letter may be used more than once.
-Purchased equipment for cash
A)Increase assets, increase liabilities
B)Increase liabilities, decrease owner's equity
C)Increase assets, increase owner's equity
D)No effect
E)Decrease assets, decrease liabilities
F)Decrease assets, decrease owner's equity

Match Each Transaction with Its Effect on the Accounting Equation