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State the effects of the following transactions on the asset, liability and owners equity. An example is shown in transactions (a): Effect Transactions Cash decrease,
State the effects of the following transactions on the asset, liability and owners equity. An example is shown in transactions (a):
Effect Transactions Cash decrease, supplier decrease Example Payment to supplier by cash. A Purchased motor vehicle by cheque. B. Owner took cash from the business for personal use. Owner contributed computer for business use. D Purchased goods on credit. E The business paid its debt to the supplier by cheque
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