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Zen began a new consulting firm on January 5. The accounting equation showed the following balances after each of the company's first five transactions. Analyze

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Zen began a new consulting firm on January 5. The accounting equation showed the following balances after each of the company's first five transactions. Analyze the accounting equation for each transaction and match the given transaction with its most likely description Assets Liabilities: Equity Transaction 1. 2. 3. Cash $ 40,000 40,000 40,000 46,000 38,000 Accounts Office Office + Receivable + Supplies - Furniture $ 0 $ + $ 0 6,000 G 6,000 8,000 6,000 0 . 8,000 6,000 0 - 16,000 Accounts Payable $ 0 8,000 8,000 8,000 Connon Stock + + $ 40,000+ 40,000+ 40,000 40,000+ 40,000+ Revenues $ 0 6,000 6,000 12,000 12,000 5. Transaction Description 1 2 3 4 5 The company billed a customer $6,000 for services provided. The company paid its supplier $6,000 for services provided The company provided services for $6,000 cash. The company purchased equipment for $8,000 cash

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