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Question(s) / Instruction(s):

A transaction caused a $60,000 increase in both assets and total liabilities. This transaction could have been which of the following? a) Repayment of a $60,000 bank loan. b) Purchase of office equipment for $120,000, paying $60,000 cash and issuing a note payable for the balance. c) Investment of $60,000 cash in the business by the owner. d) Purchase for office equipment for $60,000 cash.

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