Match each transaction with its effect on the accounting equation. Each letter may be used more than once.
Received cash for services provided
Choose
Increase assets, increase owner's equity
Received utility bill to be paid next month
Increase assets, increase liabilities
Decrease assets, decrease owner's equity
Investment of land by owner
Decrease assets, decrease liabilities
Increase liabilities, decrease owner's equity
No effect
Paid part of an amount owed to a creditor
Choose
Paid cash for the purchase of a oneyear insurance policy
Received payment from a customer on account
Cash withdrawal by owner
Provided a service to a customer on account
Purchased supplies on credit
Paid wages
Cash investment by owner
Borrowed money from a bank
Purchased equipment for cash
