Indicate the Effects on the Accounting Equation of the Following

question 257

Essay

Indicate the effects on the accounting equation of the following business transactions of Garland Service Corporation for b) to d) below. Use proper account titles. Transaction a) is answered as a guide.
a) Received cash from Trent Garland issued common stock to him.
b) Collected cash on accounts receivable (created 20 days earlier).
c) Purchased office supplies on account.
d) Paid cash for the current month's electric bill.

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Definitions:

Genetic Factors

Elements within an organism's genes that influence its traits and can be inherited from parents.

Bisexual

Attracted to individuals of both genders.

Sexually Intimate

pertains to engaging in physical or emotional interactions that express closeness and love, typically involving sexual activities.

Sexual Identity

An individual's conception of themselves in relation to sexual attractions, behaviors, and membership in a community of others who share similar attractions.