AJ's Auto Repair Shop shows five transactions summarized below. The effect of each transaction on the accounting equation is shown, and also the new balance of each item in the equation. For each transaction (a) to (e) write an explanation of the nature of the transaction. 
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Grade Papers
The process of evaluating and assigning scores to students' written work or exams.
Economic Concept
A theoretical construct that explains various aspects of the economy, including transactions, decision-making processes, and the behavior of markets.
Rural Communities
Areas that are located outside towns and cities, often characterized by low population density and agricultural-based economies.
Urban Areas
Densely populated regions characterized by high human settlement and infrastructure of built environment.
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