There are three elements to the accounting equation: assets, liabilities, and stockholders€™ equity. Although other possibilities exist, five types of transactions are described here. For each of these five types, write descriptions of two transactions that illustrate the type of transaction.

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Type of Transaction Assets Liabilities +Stockholders Equity 2. 3. 4 5. Increase Increase Increase Decrease Decrease Decrease Increase Decrease Increase Decrease