Question: 2 Chapter 2 For each of the following errors, indicate whether the error would cause the accounting equation to be out of balance and, if

2 Chapter 2 For each of the following errors, indicate whether

2 Chapter 2 For each of the following errors, indicate whether the error would cause the accounting equation to be out of balance and, if so, indicate how it would be out of balance and how to correct these errors. (a) The purchase of equipment for $100,000 cash was recorded as an increase in equipment of $100,000 and a decrease in cash $75, 000. (b) The receipt of loan of $100,000 was recorded as an increase in cash of $100,000 and an increase in Shareholders' Equity of $100,000. Please do (a) and (b) separately: ANSWER BELOW

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