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Guy Wood performed carpenter services for $2,500. He received cash of $1,000 and gave credit of $1,500. Describe how Guy would record this transaction in

Guy Wood performed carpenter services for $2,500. He received cash of $1,000 and gave credit of $1,500. Describe how Guy would record this transaction in the accounting equation given below: Assets = Liabilities + Owners Equity Cash + Debtors = Creditors + Capital

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