kyndellkeittp1c4zd kyndellkeittp1c4zd
  • 30-06-2021
  • Social Studies
contestada

if you borrow to buy a new car with a note, which of the following items on the balance sheet will be affected?

answer options
assests only
assets and debts
unable to determine
debts only

Respuesta :

makayla121600 makayla121600
  • 30-06-2021
assets and debts. assets would increase due to an additional car that is and asset, and the same time the debts would increase due to an additional loan taken to buy the car. therefore balance sheet would still balance because there would be a debt entry to asset accounts and a credit entry to debtors accounts.
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