USA Decrease or increase of assets?

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Feb 29, 2020
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The company repays the bank that had lent money to the company. How it effects assets?
 
Joined
Mar 2, 2020
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As you are paying back the bank from the back of a loan, this in essence means you are reducing the liabilities. The only element of assets involved here is the cash at bank (current assets) which would also decrease as your crediting your bank to repay the loan.
 

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