The following T-accounts indicate the effects of normal business transactions:

Required:1. Describe the typical investing and financing transactions that affect each T-account; that is, what economic events made these accounts increase or decrease?2. For each T-account, compute the missing amounts.

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Notes Payable Equipment Note Receivable 1/1 500 1/1 150 100 1/1 250 225 170 31/12 170 180 31/12 31/12 100