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Evaluate each of the following transactions in terms of their effect on assets, liabilities, and equity. 1. Pay $4,000 owed to a supplier 2. Receive
Evaluate each of the following transactions in terms of their effect on assets, liabilities, and equity.
1. Pay $4,000 owed to a supplier 2. Receive payment of $11,000 owed by a customer
What is the net change in Total Assets?
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