BE1-5 Presented below are three business transactions. On a sheet of paper, list the letters (a),(b), (c) with columns for assets, liabilities, and owner’s equity.

Price:$1.99


BE1-5 Presented below are three business transactions. On a sheet of paper, list the letters (a),
(b), (c) with columns for assets, liabilities, and owner’s equity. For each column, indicate whether
the transactions increased (+), decreased (-), or had no effect (NE) on assets, liabilities, and
stockholders’ equity.

(a) Purchased supplies on account.
(b) Received cash for providing a service.
(c) Paid expenses in cash.