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CASH received $5,000 from a foundation that had awarded CASH the grant the previous year. Explain the impact of transaction 2 on the Fundamental Equation

CASH received $5,000 from a foundation that had awarded CASH the grant the previous year.

Explain the impact of transaction 2 on the Fundamental Equation of Accounting. That is what assets, liabilities and/or net assets are affected by the transaction. Be sure to include the dollar amount involved. Your answer can be descriptive and need not be in the context of a ledger but it must clearly demonstrate your understanding of the impact.

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