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Jay Pembroke started a business. During the first month (April 20--), the following transactions occurred.
a. Invested cash in business, $18,000.b. Bought office supplies for $4,600: $2,000 in cash and $2,600 on account.c. Paid one-year insurance premium, $1,200.d. Earned revenues totaling $3,300: $1,300 in cash and $2,000 on account.e. Paid cash on account to the company that supplied the office supplies in transaction (b), $2,300.f. Paid office rent for the month, $750.g. Withdrew cash for personal use, $100
Required:
Show the effects of the transaction of invidual accounts on the Accounting Equation. After transaction g, show the totals of each element.
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