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Cameron Turnball started a new business, Turnbaull Gymnastics, and completed the following transactions during December: Cameron contributed $21,000 cash in exchange for common stock, Received

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Cameron Turnball started a new business, Turnbaull Gymnastics, and completed the following transactions during December: Cameron contributed $21,000 cash in exchange for common stock, Received $2, 400 cash from customers for services performed. Paid $350 cash for office supplies. Performed services for a customer and billed the customer for services rendered, $1, 500, Received $ 100 invoice for utilities due in two weeks. Paid for advertising in the local paper, $300. Paid utility invoice received on Dec. 10. Collected cash in full from customer billed on Dec 9 Paid rent for the month, $2, 800. Paid $ 1, 100 to assistant for wages. Received $2, 800 cash from customers for services performed Cash dividends of $4, 500 were paid to stockholders. Analyze the effects of the transactions on the accounting equation of Turnbull Gymnastics using a format similar to Exhibit 1 -6

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