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SECTION 1 - Using the accounting equation, show the following (a) Investrnent of cash, $44,000. (b) Purchase merchandise from Dairyman's Co-op on account $15,000. (c) Payment of $4700 on account to Dairyman's Co-op. (d) Sale for cash of merchandise costing $3,500 for $4,500. Cash Supplies Liabilities (a) (b) Equity 0 + 0 + 0 (c) 0 + + + 0 0 + (d) Totals