Business, 03.03.2020 01:27 jamesnoro

At the beginning of the month, a company purchased a new truck for $45,000, paying $21,000 cash and agreeing to pay the balance over 12 months through a no-interest financing offer provided by the car dealer. The entry to record the purchase of the truck is recorded at month-end.

What would the effect of this transaction on the company's current month-end accounting equation? (Hint: First financing payment was made before current month-end.) Select one: A. No effect on Assets; $45,000 decrease in Liabilities: $45,000 increase in Stockholders' Equity • B. No effect on Assets; $24,000 increase in Liabilities: $24,000 decrease in Stockholders Equity * C. $22,000 increase in Assets: $22,000 increase in Liabilities. No effect on Stockholders' Equity D. $45,000 increase in Assets; No effect on Liabilities, 545,000 increase in Stockholders' Equity 45,000 Rationale: Truck 22.000* 22.000 Cash Accounts payable $45.000 Cost of Truck

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