Accounting Exam 1 Flashcards Quizlet2022-08-24
D. $300,000. E. $792,000. $492,000. If a company uses $1,300 of its cash to purchase supplies, the effect on the accounting equation would be: A. Assets increase $1,300 and liabilities decrease $1,300. B. One asset increases $1,300 and another asset decreases $1,300, causing no effect. C. Assets decrease $1,300 and equity decreases $1,300.
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