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3: (10 Points): What is the impact of each transaction on the accounting equation? You have the following options: A: Increase in an asset,
3: (10 Points): What is the impact of each transaction on the accounting equation? You have the following options: A: Increase in an asset, decrease in another asset B: Increase in an asset, increase in a liability C: Increase in an asset, increase in stockholder's equity D: Decrease in an asset, decrease in a liability E: Decrease in an asset, decrease in stockholder's equity Transactions: 1: Paid $100 for a Prepaid Insurance Policy for the year 2: Purchased Equipment for $6,000 cash 3: Received $200 cash from customers for whom you provided the service last year 4: Used Supplies in the amount of $50 5: Provided a service to a customer and they paid us $250 cash 1: 2: 3: 4: 5:
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