Zen began a new consulting firm on January 5. Following is a financial summary, including balances,.

Zen began a new consulting firm on January 5. Following is a financial summary, including balances,.

Zen began a new consulting firm on January 5. Following is a financial summary, including balances, for each of the company s first five transactions (using the accounting equation form). Identify the explanation from a through j below that best describes each transaction 1 through 5 above and enter it in the blank space in front of each numbered transaction. a. The company purchased office furniture for $8,000 cash. b. The company received $40,000 cash from a bank loan. c. The owner invested $1,000 cash in the business. d. The owner invested $40,000 cash in the business. e. The company purchased office supplies for $3,000 by paying $2,000 cash and putting $1,000 on credit. f. The company billed a customer $6,000 for services provided. g. The company purchased office furniture worth $8,000 on credit. h. The company provided services for $1,000 cash. i. The company sold office supplies for $3,000 and received $2,000 cash and $1,000 on credit. j. The company provided services for $6,000 cash.

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