Question: If a company issues a note payable for $ 4 0 , 0 0 0 and pays $ 3 0 , 0 0 0 of

If a company issues a note payable for $40,000 and pays $30,000 of cash to purchase equipment, the company's
q,
total equity will increase by $10,000.
total assets will increase by $40,000.
total liabilities will increase by $10,000.
total assets will increase by $10,000.
total liabilities will decrease by $40,000.
If a company issues a note payable for $ 4 0 , 0

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