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a. The company completed consulting work for a client and immediately collected $7,100 cash. b. The company completed commission work for a client and sent
a. The company completed consulting work for a client and immediately collected $7,100 cash. b. The company completed commission work for a client and sent a bill for $5,600 to be received within 30 days. c. The company paid an assistant $2,200 cash as wages for the period. d. The company collected $2,800 cash as a partial payment for the amount owed by the client in transaction b. e. The company paid $1,020 cash for this period's cleaning services. Required: Enter the impact of each transaction on individual items of the accounting equation. (Enter decreases to account balances with a minus sign.) Assets Liabilities Transactions Number Accounts Accounts Owner, Cash + + Receivable Payable Capital + + a. b. + + Balance after a and b + = + C. + = + Balance after c = d. + = + Balance after d + = + e. + = + Balance after e + = + Equity Owner, Withdrawals + Revenue - Expenses + - + + + + + + + +
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