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Reflect on a recent real - life experience where you were involved in a business transaction, such as purchasing an item at a store, receiving
Reflect on a recent reallife experience where you were involved in a business transaction, such as purchasing an item at a store, receiving money as a gift, or paying a bill. Apply your knowledge of accounting principles to analyze the financial impact of this transaction. Explain how the transaction affected different accounts, such as assets, liabilities, and equity. Share your analysis and showcase your understanding of accounting concepts through this reallife example
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