Shareholders contribute $10,000 cash to a company,of which $5,000 is used to buy new equipment and $3,000 is used to pay off accounts payable.Applying transaction analysis show the effect of these transactions on the basic accounting equation.Then,show the journal entries that would be used to record the transactions.

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The Answer of Shareholders contribute $10,000 cash to a company,of which $5,000 is used to buy new equipment and $3,000 is used to pay off accounts payable.Applying transaction analysis show the effect of these transactions on the basic accounting equation.Then,show the journal entries that would be used to record the transactions.

Shareholders Contribute $10,000 Cash to a Company,of Which $5,000 Is