For each of the following transactions, indicate what accounts are likely to be affected and whet

For each of the following transactions, indicate what accounts are likely to be affected and whether the accounts are likely to be debited or credited.

a. Money is received from stockholders.

b. Merchandise is purchased on account.

c. A building is purchased. Payment is made by cash and by taking out a mortgage.

d. A piece of equipment is sold for cash.

 

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