Â legal firm would be considered aÂ A business paid $ 5000.
A. merchandise company.Â
C. service company.Â
D. None of the above
a) increase one asset, decrease another asset.
b) increase an asset, increase Â a liability
c) decrease an asset, decrease a liability
d)increase an asset, increase owner's equityÂ
A business paid $ 5000.Â to a creditor in payment of an amount owed. The effect of the transaction on the accounting equation was to:
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