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Paid cash for rent, $ 5 0 0 . Received cash from owner as an investment, $ 8 0 0 . Paid cash for telephone
Paid cash for rent, $
Received cash from owner as an investment, $
Paid cash for telephone bill, $
Received cash from sales, $
Bought supplies on account from Paws & Claws Co $
Sold services on account to Dr Shephard, $
Paid cash for advertising, $
Paid cash for supplies, $
Received cash on account from Dr Shephard, $
Eleanor Lalime operates a service business called Doggywood Pet Suites. Doggywood Pet Suites uses the accounts shown in the following accounting equation. For each transaction, complete the following: a Analyze the transaction to determine which accounts in the accounting equation are affected. b In the appropriate columns, enter a plus sign if the account increases or a minus sign if the account decreases, and then enter the amount. c For transactions that change owner's equity, select a description of the transaction to the right of the amount. d Calculate and enter a new balance for each transaction in the accounting equation. e Before going on to the next transaction, determine that the accounting equation is still in balance. Transaction is given as an example.
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