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1 Selected transactions for Reynolds Company are summarized in equation form in the accompanying table, with each of the eight transactions identified by letter +

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1 Selected transactions for Reynolds Company are summarized in equation form in the accompanying table, with each of the eight transactions identified by letter + ASSETS = LIABILITI ES OWNER'S EQUITY Accounts Cash + Receivable + Building + Equipment = Accounts Payable Susan Reynolds, + Capital $0 $0 $0 $0 30.000 30.000 (26.000) 4.000 0 0 0 26.000 26.000 30.000 30.000 0 30.000 0 0 0 0 8.000 0 26.000 8.000 8.000 0 4.000 6.000 10.000 26.000 8.000 0 30.000 6.000 36.000 5.000 41.000 5.000 5.000 26.000 8.000 8.000 8.000 8.000 8.0000 _(2.000) 6.000 26.000 10.000 (2.000) 8.000 1.000 9.000 (600) 8.400 0 5.000 (1.000) 4.000 6.000 0 26.000 26.000 41.000 41.000 (600) 40.400 4.000 8.000 6.000 0 Required: Write an explanation of the nature of each transaction. (Assume that item a is the only contribution or withdrawal of capital by the owner

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