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Jeffries's Pool Repairs began operations on June 1 and had the following transaction...

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Accounting

Jeffries's Pool Repairs began operations on June 1 and had the following transaction during the first month. Choose the correct accounts that are affected by the transaction and whether those accounts are being increased or decreased.
Pool repair equipment was purchased at a cost of $30,000 of which $20,000 was paid is cash. A note payable (loan) was given for the remainder of $10,000 terms 8% annual interest for 12 months.
Increase Equipment, $30,000; Decrease Cash, $20,000; Increase Notes Payable $10,000
Increase Equipment, $30,000; Decrease Cash, $30,000
Increase Equipment $20,000; Decrease Cash, $20,000;
Increase Equipment, $30,000; Increase Cash, $20,000; Decrease Notes Payable, $10,000

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