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What the effect on the accounting equation

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Question 1: The following transaction occurred during the first month of operations, please indicate what's the effect on the accounting equation:

September 2. Purchase in cash costumes of famous wrestlers to wear at parties. The costumes can last 2 years.$600

A. Increase and decrease assets

B. Increase assets and increase liabilities

C. Decrease assets and decrease liabilities

D. None of the others alternatives are correct

E. Increase assets and increase Owner's equity

Reference no: EM132479848

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