Determine the effect on financial statement items

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Reference no: EM132476164

Question 1: Prepare the journal entry to record each of the following independent transactions. How does this entry affect the accounting equation?

Question 2: Indicate the effect on financial statement items by selecting "-" for decrease (or negative effect), "+" for increase (or positive effect) and "NE" for No Entry (or no effect) on the financial statement.

Reference no: EM132476164

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