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Analyze each of the following transactions and show the effect on the accounting equation. Provide services to customers on account for $42,000. Purchase equipment by
Analyze each of the following transactions and show the effect on the accounting equation. Provide services to customers on account for $42,000. Purchase equipment by signing a note with the bank for $34,000. Repay $27,000 of the note in (2) above. Pay utilities of $4,200 for the current month. Note: Decreases to account classifications should be entered as a negative
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