Match the effect to the transaction:
Affect:
a. decreases an asset and decreases equity
b. increases an asset and increases a liability
c. decreases a liability and increases a liability
d. decreases an asset and decreases a liability
e. increases an asset and decreases an asset
f. increases a liability and decreases equity
g. increases an asset and increases equity
Transaction:
1. business incurs an expense paid in cash
2. business incurs an expense that is not yet paid
3. business pays an account payable with cash
4. business purchases equiptment on credit
5. business purchases office supplies for cash
6. business signs a note payable to extend the due date on an account payable
7. stockholder invests cash in the business