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22 August, 15:42

Some of the balances on Carla's Cookies June 30th trial balance include Cash $100,000, Accounts Receivable $50,000, Equipment $25,000 and Accounts Payable $75,000. During the month of July, the company used cash to purchase $8,000 of equipment. How will this transaction affect the equipment account balance on the July 31st trial balance?

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  1. 22 August, 19:15
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    Equipment: July ending balance: $ 33,000

    Explanation:

    Equipment Beginning Balance: $ 25,000

    Adds $ 8,000

    Ending Balance as of July 31st : $ 33,000
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