External transactions are transactions the firm conducts with a separate economic entity,such as selling products to a customer,purchasing supplies from a vendor,paying salaries to an employee,and borrowing money from a bank.
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Q3: Purchasing supplies on account increases the balance
Q4: Borrowing cash from the bank causes assets
Q5: After recording each transaction,total assets must equal
Q6: Internal transactions are events that affect the
Q9: If a transaction causes total assets of
Q10: Purchasing office supplies on account causes assets
Q11: Amounts owed from customers are recorded in
Q12: Receiving cash in advance from a customer
Q13: Providing services to customers on account causes
Q59: Revenues have the effect of increasing retained
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