If a company purchases equipment costing $3300 on credit, the effect on the accounting equation would be:
A. Assets increase $3300 and liabilities increase $3300.
B. Equity increases $3300 and liabilities decrease $3300.
C. One asset increases $3300 and another asset decreases $3300.
D. Equity decreases $3300 and liabilities increase $3300.
E. Assets increase $3300 and liabilities decrease $3300.
Answer: A
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