Problem: A company purchased office equipment by issuing a short-term note payable. What two accounts were affected by the transaction? a. Equipment and Cash b. Equipment and Accounts Payable c. Equipment and Notes Payable d. Equipment and Stockholders' Equity

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A company purchased office equipment by issuing a short-term note payable. What two accounts were affected by the transaction?

a. Equipment and Cash

b. Equipment and Accounts Payable

c. Equipment and Notes Payable

d. Equipment and Stockholders' Equity