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For each of the transactions below, indicate whether the accounts affected are increased or decreased: Transactions Account Increase / Decrease a . Sold shares for
For each of the transactions below, indicate whether the accounts affected are increased or decreased:
Transactions
Account
IncreaseDecrease
a Sold shares for cash.
Cash A
Common Shares SE
b Borrowed money from a bank.
Cash A
Bank Loan Payable L
c Bought equipment from a supplier on credit.
Equipment A
Accounts Payable L
d Bought inventory from a supplier, partly for cash and partly on account.
Inventory A
Cash A
Accounts Payable L
e Sold inventory to a customer on account. Hint:
Your answer should deal with both the revenue
Accounts Receivable
A
and the related expense.
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