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George Atlas started a business on June 1, 20--. Analyze the following transactions for the first month of business using T accounts. Label each T account with the title of the account affected and then place the transaction letter and the dollar amount on the debit or credit side.
(a) Invested cash in the business, $7,000.(b) Purchased equipment for cash, $900.(c) Purchased equipment on account, $1,500.(d) Paid cash on account for equipment purchased in transaction (c), $800.(e) Withdrew cash for personal use, $1,100.
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