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Do not enter dollar signs or commas in the input boxes. Use the negative sign for negative values. Where a transaction affects two accounts in
Do not enter dollar signs or commas in the input boxes.
Use the negative sign for negative values.
Where a transaction affects two accounts in the same category, enter the positive amount in the first space provided and enter the negative amount in the second.
Indicate whether the account balances will increase or decrease and by how much, based on each transaction. The first transaction has been completed fo r you. Always ensure that the accounting equation is balanced lar signs or commas in the input boxes. Use the negative sign for negative values. Where a transaction affects two accounts in the same category,_enter the positive amount in the first space provided and enter the negative Transaction Assets Liabilities Owner's Equity Paid $200 cash for maintenance expense 1) The owner invested S7,620 cash into the business. 2) Paid $4,990 cash for one year of insurance -200 -200 3) Received a telephone bill for $200 which will be paid later 4) Purchased equipment worth $990 on account. 5) Provided services and collected $3,900 cash 6) Paid $900 towards the bank loan. 7) Paid $55 interest related to the bank loan. 8) Paid $600 of acco unts payableStep by Step Solution
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