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Can you answer that for me and explain why?26. A corporation purchases land for $200,000 by paying a down payment of $20,000 and by signing a note payable for the remai

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Answer #1
Assets Liabilities
Land +200,000 Notes payable +180,000
Cash -20,000
Increase by 180,000 Increase by 180,000

Option D is the answer

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