Question: The basic accounting equation for Walter Melon Grocery Store is: Assets $160,000 = Liabilities $60,000 + Stockholders Equity $100,000 If it purchases inventory on account

The basic accounting equation for Walter Melon Grocery Store is:

Assets $160,000 = Liabilities $60,000 + Stockholders Equity $100,000

If it purchases inventory on account for $20,000, the new basic accounting equation will be:

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