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Arrowhead Delivery service is owned and operated by Gates Deeter. The following selected transactions were completed by Arrowhead Delivery Service during August: Indicate the effect

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Arrowhead Delivery service is owned and operated by Gates Deeter. The following selected transactions were completed by Arrowhead Delivery Service during August: Indicate the effect of each transaction on the accounting equation elements (Assets, Liabilities, Owner's Equity, Drawing, Revenue, and Expense). Also indicate the specific item within the accounting equation that is affected. To illustrate, the answer to (1) follows: Asset (Cash) increases by $25,000; Owner's Equality (Gates Deeter, Capital) increases by $25,000

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