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A d. Selected transactions completed by a proprietorship are described below. Indicate the effects of each transaction on assets (A), liabilities (L), and owner's equity
A d. Selected transactions completed by a proprietorship are described below. Indicate the effects of each transaction on assets (A), liabilities (L), and owner's equity (OE) by inserting "+" for increase, for decrease, and "NE" for no effect in the appropriate columns at the right. If appropriate, you may insert more than one symbol in a column. OE Received cash from owner as an additional investment b. Purchased supplies on account Paid rent for the current month d. Received cash for services sold to customers Pald cash to creditor for purchases in (b) f. Billed customers for services sold on account 9. Received cash on account from customers Owner withdrew cash for personal use Recorded the cost of supplies used during >> C. >> .
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