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Groro Company bills a client $53,000 for services provided and agrees to accept the following three items in full payment: (1) $30,000 cash. (2) $47,000
Groro Company bills a client $53,000 for services provided and agrees to accept the following three items in full payment: (1) $30,000 cash. (2) $47,000 of equipment, and (3) $24.000 note payable owed on the equipment (a) Analyze the transaction using the accounting equation. (b) Record the transection in journal entry form (c) Post the entry using T-accounts to represent ledger accounts Complete this question by entering your answers in the tabs below. Required A Required B Required C Analyze the transaction using the accounting equation. Assets Cash Equipment Liabilities Note Payable Equity Services Revenue Required B>
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