Excel Corporation's financial statements for last month show a $10,000 decrease in cash, a $7,000 increase in notes payable, and a $17,000 increase in equipment, all of which occurred on the same date. Taken collectively, what do these three entries suggest?

Respuesta :

Answer:

Purchase of fixed assets

Explanation:

Equipment               17000                   Equipmnet Purchase

Cash                                      7000        Pay with Cash

Payable notes                      17000       Promise of pay

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