Business, 04.09.2021 01:00 irvinbhangal2

State whether each event (1) increased, (2) decreased, or (3) had no effect on the total assets of the business. Identify any specific asset affected. If no effect, indicate the reason. Transaction Effect on total assets Account affected or why total assets remain unchanged a. Paid $400 cash on accounts payable. Decreased Accounts Receivable b. Made a cash purchase of land for a building site for the business, $89,000. Increased Office Supplies c. Sold land and received cash of $69,000 (the land was carried on the company's books at $69,000). Decreased Office Supplies d. Received $15,400 cash from customers on account. Increased Cash e. Purchased medical equipment and signed a $90,000 promissory note in payment. Increased Note Payable

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State whether each event (1) increased, (2) decreased, or (3) had no effect on the total assets o...

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