Select all that apply Identify what a company gives and receives when it invests in equipment by paying cash and signing a two-year note. (Check all that apply.) \( \square \) It receives stock. \( \square \) It gives equipment. \( \square \) It gives cash. \( \square \) It gives a promissory note. It receives a promissory note. It gives stock. \( \square \) It receives equipment. \( \square \) It receives cash.

When a company invests in equipment by paying cash and signing a two-year note, it hands over cash and another form of liability in the promissory note. In exchange, the company acquires the equipment it needs to continue its operations. This transaction is a classic example of how businesses manage their assets and liabilities. The equipment enhances productivity or service delivery, while the liability of the note becomes a promise to pay, tracking payments over the next two years. It's all part of the strategic funding dance companies engage in to keep everything running smoothly!