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For each of the following events, indicate the amount by which liabilities increased or decreased. a) Owner invested cash of $20,000 and equipment valued at $10,500 into the business. Ans: b) Purchased $600 of supplies on account. Ans: c) Borrowed $10,000 from the bank, issuing a note payable. Ans: d) Performed a service for $1,500 and immediately collected the cash. Ans: e) Paid the employee salaries of $1,200 cash. Ans: f) Purchased equipment for $550 cash. Ans: g) Received monthly rent bill of $1,300, to be paid in the following period. Ans: h) Performed a service on account for $2,300. Ans:
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