For each of the following transactions, indicate which elements of the accounting equation are affected (minimum of 2 per transaction) and whether the element has increased or decreased as a result.
|
a) Paid rent for August |
$3,000 |
|
b) Received cash from cash customers |
$7,500 |
|
c) Received cash for capital stock |
$15,000 |
|
d) Paid creditors on account |
$800 |
|
e) Received cash from customer’s on account |
$1,200 |