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Ralphie and 4 of his friends invested $100 each to open Buffs Inc. The new company is planning to sell widgets as well as 1-year

image text in transcribed Ralphie and 4 of his friends invested $100 each to open Buffs Inc. The new company is planning to sell widgets as well as 1-year services plans for the widgets. A=L+SEREVEXP Q1: How does this entry affect total assets? Q2: How does this entry affect stockholders' equity

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