Question: A transaction caused an increase in assets and an increase in liabilities. This transaction could have been: Multiple Choice Purchase of office equipment with cash.

A transaction caused an increase in assets and an increase in liabilities. This transaction could have been: Multiple Choice Purchase of office equipment with cash. O Payment received in advance from a customer. O Repayment of a bank loan. Year end accrual of interest due on a note payable None of the above

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