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How the paid for utilities used in the business

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Effect of Transactions on Accounting Equation

Problem 1: Describe how the following business transactions affect the three elements of the accounting equation.

a. Invested cash in business.

b. Paid for utilities used in the business.

c. Purchased supplies for cash.

d. Purchased supplies on account.

e. Received cash for services performed.

Reference no: EM132626636

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