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Assess effects to assets, liabilities and equity

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Presented below are three business transactions. list the letters (a), (b), (c) with columns for assets, liabilities, and stockholders' equity. For each column, indicate whether the transactions increased (+), decreased (−), or had no effect (NE) on assets, liabilities, and stockholders' equity.

(a) Purchased supplies on account.
(b) Received cash for providing a service.
(c) Paid expenses in cash.

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Solution Summary

The table attached shows +, - or NE for each of the transactions

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