Mr x purchased a building for 5000000 by making a down


Mr. X purchased a building for $ 5,000,000 by making a down payment of $ 1,000,000 and signing a $ 4,000,000 bill payable due in 60 days. What was the effect on assets & liabilities from this transaction?

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Accounting Basics: Mr x purchased a building for 5000000 by making a down
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