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Please illustrate what happens when a firm does each of the following transactions. In each instance, indicate what accounts will be affected and by how
Please illustrate what happens when a firm does each of the following transactions. In each instance, indicate what accounts will be affected and by how much, whether it is a balance sheet asset item, balance sheet liability item, or income statement item (e.g., account CCC will increase by $25, it is a balance sheet asset item). Unless otherwise stated, all transactions are settled in cash. a) The firm issues equity worth $10,000 (sells 1,000 shares at $10 each) b) The firm buys land worth $80,000. c) The firm sells goods worth $1500
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