When a company buys equipment for 168000 and pays for one, Financial Accounting

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When a company buys equipment for 168000 and pays for one

When a company buys equipment for $168,000 and pays for one third in cash and the other two thirds is financed by a note payable, which of the following are the effects on the accounting equation? Total liabilities decrease $56,000. Total assets increase $168,000. Total liabilities increase $168,000. Total assets increase $112,000.

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Financial Accounting: When a company buys equipment for 168000 and pays for one

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