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1 year ago

Morris lest, inc. purchased machinery for $10,000 cash. the effect of this transaction is to cause _____

1 answer:

3 0

The purchase of machinery by Morris Lest Inc would have the effect of total assets to remaining the same.

<h3>What will happen to the assets?</h3>

When machinery is purchased, it will increase total assets. This is because machinery is a fixed asset that is needed for the production of goods and services.

Cash is also an asset and using it to purchase items will reduce it. In this case therefore, one asset decreased and another asset increased by the same amount so total assets remain the same.

Find out more on the effects of transactions on assets at brainly.com/question/15588210

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