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Effect of Transactions onAccounting Equation Describe how the followingbusiness transactionsaffect the three elements of the accounting equation. a. Invested cash inbusiness. b. Paid for utilities

Effect of Transactions onAccounting Equation Describe how the followingbusiness transactionsaffect the three elements of the accounting equation. a. Invested cash inbusiness.b. Paid for utilities used in the business.c. Purchased supplies for cash.d. Purchased supplies on account.e. Received cash for services performe

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