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Transaction: Sonic Co. pays $1,130 cash for supplies. Required: For the transaction above, complete the following: (a) Select the accounts that are affected (there will
Transaction: Sonic Co. pays $1,130 cash for supplies. Required: For the transaction above, complete the following: (a) Select the accounts that are affected (there will be at least two). (b) Are the selected accounts increased or decreased? (c) What is the dollar amount of change in the accounts? (d) If Equity is selected, choose the reason that it has changed. Which accounts are affected? Is the account increased or decreased? What is the amount of transaction? Account Why has Equity chang $ Cash SO Accounts Receivable Increase Decrease Increase Decrease Increase Decrease Increase Decrease Suoplies OTO $0 Tools Increase SB Accounts Payable Decrease Increase SD Choose One Egy Decrease
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