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Financial Accounting Concepts Assignment 1: Identify the effect of following transactions on the accounting equation 1. Mr. X invested $2,000 cash into his business.

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Financial Accounting Concepts Assignment 1: Identify the effect of following transactions on the accounting equation 1. Mr. X invested $2,000 cash into his business. 2. Rendered service and received $6,500 cash. 3. Purchased supplies on credit; $600. 4. Paid the part-time administrative assistant's salary of $1,450. 5. Purchased $3,000 office equipment by cash.

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