Question: Bobby Collins decided to start a dental practice. The first five transactions for the business follow. Collins invested $72,000 cash in the business. Paid $12,000

Bobby Collins decided to start a dental practice. The first five transactions for the business follow. Collins invested $72,000 cash in the business. Paid $12,000 in cash for equipment. Performed services for cash amounting to $7,200. Paid $2,000 in cash for advertising expense. Paid $1,200 in cash for supplies

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