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Alexander Book Company showed the following transactions for the accounting period ending December 31, 2012: 1) Sold books to customers for $34,000 on account 2)

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Alexander Book Company showed the following transactions for the accounting period ending December 31, 2012: 1) Sold books to customers for $34,000 on account 2) Collected $28,000 from customers 3) Issued common stock for $8,000 cash 4) Prepaid four months rent for $4,400 on October 1, 2012 5) Purchase supplies for $10,500 cash 6) Purchased equipment at beginning of year, paying $9,000 cash Equipment has a 4 years life and $1,000 salvage value 7) Physical count shows $3,250 of supplies left over on December 31, 2012 Show how the above transactions and year end adjustments affect the financial statements on the accounting equation: Accts, Rec. Ppd. Rent Supplies Equip Accum. Depr Common Stock Related Farines Balances

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