Give the effect the following transactions would have on EACH side of the accounting equation. Be specific in the description of the accounts. The first transaction's effect is noted as an example for you to follow.
Definitions:
Employees
Individuals who work for a business or organization and receive compensation for their labor, often guided by a contract of employment.
Total Product Curve
A graphical representation showing how the total output of a firm changes as the amount of a single input changes, holding all other inputs constant.
Average Product
The output per unit of input, calculated by dividing total production by the number of units of input.
Marginal Product
The additional output derived from the use of one more unit of a production input, while holding other inputs constant.
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