Question: Mike Ackerman decided to open Mikes Nail Spa. Mike completed the following transactions: a. Invested $17,000 cash from his personal bank account into the business.

Mike Ackerman decided to open Mike’s Nail Spa. Mike completed the following transactions:

a. Invested $17,000 cash from his personal bank account into the business.

b. Bought store equipment for cash, $3,900.

c. Bought additional store equipment on account, $6,100.

d. Paid $700 cash to partially reduce what was owed from transaction C.

Based on this information, record these transactions into the basic accounting equation.


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