Question: On June 1 , 2 0 2 1 , Boudreaux s Bayou Tours Company purchases a new boat that costs $ 9 0 , 0

On June 1,2021, Boudreauxs Bayou Tours Company purchases a new boat that costs
$90,000, from Boat World, Inc., and pays Boat World $30,000 in cash and finances the
remainder with a note. What effect will this transaction have on the basic accounting
equation on June 1,2021?

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