Which of the Following Transactions Affects the Liabilities for Gravette

question 25

Multiple Choice

Which of the following transactions affects the liabilities for Gravette, Inc.?

• A) Supplies are purchased for cash by Gravette.
• B) Gravette places an order for merchandise with a supplier; the merchandise will be shipped to Ernest White in 60 days.
• C) The owners of Gravette invest $100,000 in the company.
• D) Payment is made on a bank loan which Gravette had obtained 6 months ago.

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