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ndicate the accounts, amounts, and direction of the effects on the accounting equation (Assets = Liabilities + Stockholders Equity). Enter the exact amount of the

ndicate the accounts, amounts, and direction of the effects on the accounting equation (Assets = Liabilities + Stockholders Equity). Enter the exact amount of the transaction or 0 for No Effect in the 3rd box of each line. Do not include the dollar sign.

Bought and received $700 of supplies on account.

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