For each of the following items, give an example of a business transaction that has the described effect on the accounting equation:
Increase an asset and increase a liability:
Increase one asset and decrease another asset.
Decrease an asset and decrease owner's equity.
Decrease an asset and decrease a liability.
Increase an asset and increase owner's equity
For each of the following items, give an example of a business transaction that has the described effect on the accounting equation:
Increase an asset and increase a liability:
Increase one asset and decrease another asset.
Decrease an asset and decrease owner's equity.
Decrease an asset and decrease a liability.
Increase an asset and increase owner's equity
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