Company B needed additional financing to grow its business, so it took out a loan...
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Accounting
Company B needed additional financing to grow its business, so it took out a loan from the local bank for $100,000 on March 1st. The bank requires that the principal amount of the loan will need to be repaid in two years, with interest due every six months.
How would this transaction impact the accounting equation of Company B on March 1st when it took out the loan?
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