Question: Burrows, Inc. issued a note payable to the bank at the beginning of the month and owes interest on the note at the end of

Burrows, Inc. issued a note payable to the bank at the beginning of the month and owes interest on the note at the end of the month.(The interest is not going to be paid until later.) Show the effect of this transaction on total Assets, Liabilities and/or Shareholders' Equity and the account titles. If no effect, select "No Effect".
-A.B.C.
Assets
-A.B.C.
Liabilities
-A.B.C.
Shareholders' Equity
A.
Increase
B.
No Effect
C.
Decrease

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