Can a business enter into a transaction in which only the left side of the basic accounting equation is affected? If so, give an example.

. Can a business enter into a transaction in which only the left side
of the basic accounting equation is affected? If so, give an example.

. Are the following events recorded in the accounting records? Explain your answer in each case.

a. The owner of the company dies.
b. Supplies are purchased on account.