Zack's, Inc. sold land that cost $85,000 for $70,000 cash. As a result of this event O total assets increased. total assets were not affected. O total assets and liabilities increased. O total assets decreased.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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A4 please help.....

Zack's, Inc. sold land that cost $85,000 for $70,000 cash. As a result of this event
O total assets increased.
total assets were not affected.
O total assets and liabilities increased.
O total assets decreased.
Transcribed Image Text:Zack's, Inc. sold land that cost $85,000 for $70,000 cash. As a result of this event O total assets increased. total assets were not affected. O total assets and liabilities increased. O total assets decreased.
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