A transaction caused a $15,000 decrease in both assets and total liabilities. This transaction could have been _____?

A transaction caused a $15,000 decrease in both assets and total liabilities. This transaction could have been _____?

Explanation
  • Repaying a loan decreases assets (cash) and liabilities (loan payable) by the same amount.
  • Other options involve either increasing liabilities or affecting only assets, not both.