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1.66 points SkIpped eBook Hint Print References TRANSACTIONS Justin Cole started the business...

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Accounting

1.66 points
SkIpped
eBook
Hint
Print
References
TRANSACTIONS
Justin Cole started the business with a cash investment of $47,000.
Purchased equipment for $15,500 on credit.
Performed services for $3,400 in cash.
Purchased additional equipment for $3,300 in cash.
Performed services for $4,400 on credit.
Paid salaries of $3,800 to employees.
Received $1,900 cash from charge account customers.
Paid $7,800 to a creditor on account.
Show how each transaction would be recorded in the accounting equation.
Note: Enter decreases to account balances with a minus sign.
\table[[,Assets,=,\table[[Liabilities],[Accounts],[Payable]],\table[[,Owner's Equity,,,,,,,,],[,Cash,+,\table[[Accounts],[Receivable]],+,Equipment,,,,\table[[Justin Cole,],[Capital]],+,Revenue,-,Expenses],[1.,,+1,,+,,=,,+,,+,,-,],[2.,,+1,,+,,=,,+,,+,,-,],[3.,,+,,+,,=,,+,,+,,-,],[4.,,+,,++,,=,,+,,+,,-,],[5.,,+,,+,,=,,+,,+,,-,],[6.,,+,,+,,=,,+,,+,,-,]]]]
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