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23 October, 21:46

Excel Corporation's financial statements for last month show a $10,000 decrease in cash, a $7,000 increase in notes payable, and a $17,000 increase in equipment, all of which occurred on the same date. Taken collectively, what do these three entries suggest?

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  1. 23 October, 22:06
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    Purchase of fixed assets

    Explanation:

    Equipment 17000 Equipmnet Purchase

    Cash 7000 Pay with Cash

    Payable notes 17000 Promise of pay
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