Question: The periodic payment on an installment note will have what effect on the financial statements? Multiple Choice Increases total expenses, increases total liabilities, and decreases

The periodic payment on an installment note will have what effect on the financial statements?
Multiple Choice
Increases total expenses, increases total liabilities, and decreases total assets.
Increases total expenses, decreases total liabilities, and increases total assets.
Increases total expenses, increases total liabilities, and increases total assets.
Increases total expenses, decreases total liabilities, and decreases total assets.

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