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LESSON 1-2

LESSON 1-2. How Business Activities Change the Accounting Equation. Transaction 1 August 1. Received cash from owner as an investment, $5,000.00. RECEIVING CASH. page 10. Transaction 2 August 3. Paid cash for supplies, $275.00. PAYING CASH. page 11.

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LESSON 1-2

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  1. LESSON 1-2 How Business Activities Change the Accounting Equation

  2. Transaction 1August 1. Received cash from owner as an investment, $5,000.00. RECEIVING CASH page 10 LESSON 1-2

  3. Transaction 2August 3. Paid cash for supplies, $275.00. PAYING CASH page 11 Transaction 3August 4. Paid cash for insurance, $1,200.00. LESSON 1-2

  4. Transaction 4 August 7. Bought supplies on account from Supply Depot, $500.00. TRANSACTIONS ON ACCOUNT page 12 Transaction 5 August 11. Paid cash on account to Supply Depot, $300.00. LESSON 1-2

  5. TERMS REVIEW page 13 • transaction • account • account title • account balance • capital LESSON 1-2

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