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Analyze the following transactions and show their effects on the basic accounting equation. a. C. Received $153,000 from investors buying shares in the company. b.
Analyze the following transactions and show their effects on the basic accounting equation. a. C. Received $153,000 from investors buying shares in the company. b. Bought equipment for $52,700. Paid half in cash, with the remainder to be paid in six months. Bought inventory costing $47,700, on account. d. (ii.) Sold inventory costing $37,700 to customers, (i.) on account, for $54,700. e. Made a payment of $1,000 on accounts payable. f. Borrowed $27,700 from a bank. The interest on the loan is 6% per year. g. Depreciated equipment by $1,160. h. Paid $780 for supplies to be used in the future. i. Paid $250 to the power company for electricity used during the period. j. Declared and paid dividends of $8,100
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