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Obj. 4 EX 1-9 Effect of transactions on accounting equation What is the effect of each of the following transactions on the three elements (assets,
Obj. 4 EX 1-9 Effect of transactions on accounting equation What is the effect of each of the following transactions on the three elements (assets, liabilities and stockholders' equity) of the accounting equation? A. Invested cash in business B. Paid for utilities used in the business C. Purchased supplies for cash D. Purchased supplies on account E. Received cash for services performed
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