Soaking the documents in water after tearing them up words well, burning them is less safe, but is the safest for your records, always tear or shred them no matter what
Answer:
increase assets by $13,000, increase liabilities by $13,000 and have no effect on equity.
Explanation:
Given that
The total cost of purchase of delivery truck = $15,000
Cash paid = $2,000
The accounting equation equals to
Total assets = Total liabilities + owners equity
The remaining amount left would be equal to
= $15,000 - $2,000
= $13,000
So it would increase the assets for $13,000 as the delivery truck is purchased plus there is also an increase in liabilities for $13,000 as it signed a note payable and there is no effect on equity
Look at the very last page (page 2) of this pdf, does it help?
https://www.monmouth.edu/resources-for-writers/documents/bluebook-explanatory-parentheticals.pdf/
