Presented below are three business transactions. On a sheet of paper, list the letters (a), (b), (c) with columns for assets, liabilities, and owner equity. For each column, indicate whether the transactions increased (+), decreased (-), or had no effect (NE) on assets, liabilities, and owner equity.
(a) Purchased supplies on account. (b) Received cash for providing a service. (c) Paid expenses in cash.
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May 2021
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