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Mike's Photography Completes the Following Transactions

Question 5

Essay

Mike's Photography completes the following transactions:
a. Mike invests $15,000 cash in her company.
b. The company purchases equipment on account, $600.
c. The company purchases additional equipment for cash, $300.
d. The company makes a payment on account for the equipment, $500.
Required: Record the above transactions in the basic accounting equation. Mike's Photography completes the following transactions: a. Mike invests $15,000 cash in her company. b. The company purchases equipment on account, $600. c. The company purchases additional equipment for cash, $300. d. The company makes a payment on account for the equipment, $500. Required: Record the above transactions in the basic accounting equation.

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