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Evaluate each of the following transactions in terms of their effect on assets, liabilities, and equity. 1. Purchase equipment for $43,000 in cash 2. Receive
Evaluate each of the following transactions in terms of their effect on assets, liabilities, and equity.
1. Purchase equipment for $43,000 in cash
2. Receive payment of $11,000 owed by a customer
3. Buy $14,000 worth of manufacturing supplies on credit
4. Issue $70,000 in stock
5. Pay $8,000 owed to a supplier
6. Borrow $55,000 from a bank
7. Buy $17,000 worth of manufacturing supplies on credit
What is the net change in Total Equity?
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