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Indicate the effect of each transaction on the accounting equation by choosing the appropriate letter from the following list: Increase in an asset, decrease in
Indicate the effect of each transaction on the accounting equation by choosing the appropriate letter from the following list:
- Increase in an asset, decrease in another asset.
- Increase in an asset, increase in a liability.
- Increase in an asset, increase in stockholders' equity.
- Decrease in an asset, decrease in a liability.
- Decrease in an asset, decrease in stockholders' equity.
1. Received cash in exchange for common stock, $35,000.
2. Purchased supplies for cash, $1,100.
4. Paid advertising expense, $900.
5. Received cash for providing delivery services, $33,000.
10. Paid cash dividends, $2,500.
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