Answered

Get the answers you need at Westonci.ca, where our expert community is dedicated to providing you with accurate information. Get quick and reliable solutions to your questions from a community of experienced professionals on our platform. Join our Q&A platform to connect with experts dedicated to providing accurate answers to your questions in various fields.

Shirley’s Hair Salon paid $1,000 toward a bank loan. How will this transaction impact the accounting equation?

Assets decrease and liabilities decrease.
Assets increase and liabilities increase.
Assets increase and owner’s equity increases.
Liabilities decrease and owner’s equity decreases.

Sagot :

eikhin252

Answer:

liabilities decrease and owner's equity decrease

Thank you for choosing our service. We're dedicated to providing the best answers for all your questions. Visit us again. Thank you for your visit. We're committed to providing you with the best information available. Return anytime for more. Thank you for visiting Westonci.ca, your go-to source for reliable answers. Come back soon for more expert insights.