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EXERCISE 9-23 Assets Liabilities Up Up Transaction . Purchases supplies with cash 2. Purchases supplies on account 3. Takes out a loan 4. Repays loan

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EXERCISE 9-23 Assets Liabilities Up Up Transaction . Purchases supplies with cash 2. Purchases supplies on account 3. Takes out a loan 4. Repays loan principal 5. Receives payment on a pledge 6. Makes a payment on an amount it owes 7. Prepays for insurance 8. Pays employees wages Down Down

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