Analyze each of the following transactions and show the effect on the accounting equation. 1. Provide services
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Analyze each of the following transactions and show the effect on the accounting equation.
1. Provide services to customers on account for $50,000.
2. Purchase equipment by signing a note with the bank for $35,000.
3. Repay $10,000 of the note in 2 above.
4. Pay utilities of $5,000 for the current month.
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