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Determine the new balance for each component of accounting

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Problem 1: Consider the following transactions for Thomas Company and their effect on the accounting equation. Click on each transaction for transaction details. Determine the new balance for each component of the accounting equation resulting from the transaction

Borrow Cash - Borrowed 8,020 from bank

Purchase Equipment - List Price is 9,100 Paid Price is 8,700

Revenues Earned - 297,400

Expenses Occurred - 211,600 (All Paid Cash)

Dividends - 15,200

Reference no: EM132711654

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