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Marsha Solomon, a physiotherapist, opened a practice. The business completed the following transactions: May 1 Solomon invest

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Answer #1

May 1. Total assets was $ 25,000. The asset cash was increased.

May 1. Total assets was $ 9,000. The assets supplies was increased.

May 2. Total assets was - $4,000. The assets cash was decreased.

May 3. Total assets was $ 8,000. The assets cash increased by $ 2,000 and accounts receivable increased by $ 6,000.

SUMMARY:

For first transaction, cash is increased.

For second transaction, supplies is increased.

For third transaction, cash is decreased.

For forth transaction, cash and accounts receivable increased.

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