Identify the effects of each of the following items on the accounting equation.Show the correct dollar amount and write in the name of the account involved.The first entry has been done for you.
a.Supplies used up during the period,$100
b.Prepaid rent used up during the period,$320
c.Interest accrued on a note payable but unpaid,$250
d.Depreciation on long-term assets,$6,000
e.The portion of unearned revenue that has been earned,$1,400
f.A $12,000,12-month insurance policy was purchased 3 months ago.An end of the year adjustment must be made

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The Answer of Identify the effects of each of the following items on the accounting equation.Show the correct dollar amount and write in the name of the account involved.The first entry has been done for you.
a.Supplies used up during the period,$100
b.Prepaid rent used up during the period,$320
c.Interest accrued on a note payable but unpaid,$250
d.Depreciation on long-term assets,$6,000
e.The portion of unearned revenue that has been earned,$1,400
f.A $12,000,12-month insurance policy was purchased 3 months ago.An end of the year adjustment must be made

Identify the Effects of Each of the Following Items on the Accounting