(Answered) Question determining how transactions change an accounting

Accounting

Question: Determining how transactions change an accounting equation Write the answers to the following problem in the Working Papers. Work this problem independently.

1. Place a plus () in the appropriate column if the account is increased. Place a minus () in the appropriate column if the account is decreased.

Transactions: 1. Sold services on account to Navarro Company.

2. Received cash from sales.

3. Received cash on account from Navarro Company.

4. Paid cash to owner for personal use.

5. Paid cash for rent.

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