Question: Describe how the following business transactions affect the three elements of the accounting equation. a. Received cash for services performed. b. Paid for utilities used

Describe how the following business transactions affect the three elements of the accounting equation.
a. Received cash for services performed.
b. Paid for utilities used in the business.
c. Borrowed cash at local bank.
d. Issued capital stock for cash.
e. Purchased land for cash.

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