Question

Mike Ackerman decided to open Mike’s Nail Spa. Mike completed the following transactions:
a. Invested $17,000 cash from his personal bank account into the business.
b. Bought store equipment for cash, $3,900.
c. Bought additional store equipment on account, $6,100.
d. Paid $700 cash to partially reduce what was owed from transaction C.
Based on this information, record these transactions into the basic accounting equation.



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  • CreatedApril 24, 2014
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