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n. 1,2,3 1 Saved Help Save & Exit Submit Groro Co. bills a client $55,000 for services provided and agrees to accept the following three
n. 1,2,3 1 Saved Help Save & Exit Submit Groro Co. bills a client $55,000 for services provided and agrees to accept the following three items In full payment: (1) $17,000 cash, (2) equipment worth $59,000, and (3) to assume responsibility for a $21,000 note payable related to the equipment. (a) Analyze the transaction using the accounting equation. (b) Prepare general Journal entries for the above transactions (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 17,000 + 59,000 - Liabilities Note Payable 21.000 Equity Revenue Required >
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