Multiple Choice
A transaction caused a $15,000 decrease in both total assets and total liabilities. This transaction could have been:
A) Purchase of a delivery truck for $15,000 cash.
B) An asset with a cost of $15,000 was destroyed by fire.
C) Repayment of a $15,000 bank loan.
D) Collection of a $15,000 account receivable.
Correct Answer:
Verified
Correct Answer:
Verified
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