Bond Back Clinic, Inc., started a business when Dr. Bond purchased ($8,000) of stock in the business.

Question:

Bond Back Clinic, Inc., started a business when Dr. Bond purchased $$8,000$ of stock in the business. Before starting operations, Bond Back Clinic, Inc., borrowed $$5,000$ cash by signing a note payable to First State Bank. Account for these two transactions in the accounting equation.

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