ngton Corporation borrows $80,000 cash from U.S. Bank. How does this transaction affect the accounting equation?
Multiple Choice
Assets would increase $80,000 and equity would decrease $80,000.
Assets would increase $80,000 and liabilities would increase $80,000.
Assets would decrease $80,000 and liabilities would decrease $80,000.
Assets would decrease $80,000 and equity would increase $80,000
Liabilities would decrease $80,000 and equity would increase $80,000.
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