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10-14. For each of the transactions below, record whether it would result in an increase or decrease in assets, liabilities, and/or net assets. An
10-14. For each of the transactions below, record whether it would result in an increase or decrease in assets, liabilities, and/or net assets. An organization 1. earns revenue by satisfying a performance obligation. 2. receives a donor pledge. 3. purchases supplies with cash. 4. purchases supplies on account. 5. takes out a loan. 6. repays loan principal. 7. receives payment on a pledge. 8. makes a payment on an amount it owes. 9. prepays for insurance. 10. uses prepaid insurance. 11. uses supplies. 12. uses a capital asset. 13. receives cash in advance of providing goods or services to a client. 14. provides goods and services to a client in exchange for a cash payment that was made in advance. 15. employs workers who earn wages. 16. pays employee wages that have been earned. 17. deems a portion of a pledge is uncollectible. 18. pays interest on a loan.
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