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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 $50,000. Purchase equipment by
Analyze each of the following transactions and show the effect on the accounting equation.
- Provide services to customers on account for $50,000.
- Purchase equipment by signing a note with the bank for $35,000.
- Repay $10,000 of the note in (2) above.
- Pay utilities of $5,000 for the current month
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