Identify the impact on the accounting equation of the following transactions.
1. Purchased 24-month insurance policy for cash.
2. Purchased supplies on account.
3. Received utility bill to be paid at later date.
4. Paid utility bill previously accrued.

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The Answer of Identify the impact on the accounting equation of the following transactions.
1. Purchased 24-month insurance policy for cash.
2. Purchased supplies on account.
3. Received utility bill to be paid at later date.
4. Paid utility bill previously accrued.

Identify the Impact on the Accounting Equation of the Following