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EX 1-9 Effect of transactions on accounting equation OBJ. A Describe how the following business transactions affect the three elements of the ac- counting equation:

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EX 1-9 Effect of transactions on accounting equation OBJ. A Describe how the following business transactions affect the three elements of the ac- counting equation: a. Invested cash in business. b. Paid for utilities used in the business. c. Purchased supplies for cash. d. Purchased supplies on account. e. Received cash for services performed

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