Linda Kipp started a business on May 1, 20--. Analyze the following transactions for the first month

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Linda Kipp started a business on May 1, 20--. Analyze the following transactions for the first month of business using T accounts. Label each T account with the title of the account affected and then place the transaction letter and the dollar amount on the debit or credit side.

(a) Invested cash in the business, $5,000.

(b) Bought equipment for cash, $700.

(c) Bought equipment on account, $600.

(d) Paid cash on account for equipment purchased in transaction (c), $400.

(e) Withdrew cash for personal use, $900.


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