Multiple Choice
For each transaction numbered below, identify its effect on the accounting equation by selecting from a through h below.You may use each letter more than once or not at all.
-Received cash in exchange for the issue of a note payable
A) + A and + L
B) + A and + SE (Contributed Capital)
C) + A and + SE (Retained Earnings)
D) -A and - L
E) -A and - SE (Contributed Capital)
F) - A and - SE (Retained Earnings)
G) + A and - A
H) Not communicated by the formal accounting system
Correct Answer:

Verified
Correct Answer:
Verified
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