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Exercise 2-5 Analyzing effects of a compound entry LO A1 Groro Co bills a client $62,000 for services provided and agrees to accept the following

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Exercise 2-5 Analyzing effects of a compound entry LO A1 Groro Co bills a client $62,000 for services provided and agrees to accept the following three items in full payment (1) $10,000 cash, (2) equipment worth $80,000, and (3) to assume responsibility for a $28,000 note payable related to the equipment (a) Analyze the transaction using the accounting equation (b) Prepare general journal entries for the above transactions (e) Post the entry using Taccounts to represent ledger accounts Complete this question by entering your answers in the tabs below. Required A Required B Required Analyze the transaction using the accounting equation Assets Equipment Liabilities Not Payable Equity Revenue Required a >

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