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A transaction caused a $15,000 decrease in both total assetsand 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 destroyed by fi re.c. Repayment of a $15,000 bank loan.d. Collection of a $15,000 account receivable.

A transaction caused a $15,000 decrease in both total assetsand 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 destroyed by fi re.c. Repayment of a $15,000 bank loan.d. Collection of a $15,000 account receivable.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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 destroyed by fi re.
c. Repayment of a $15,000 bank loan.
d. Collection of a $15,000 account receivable.

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