Thelma Splash is the owner of Waterways4U, a business hiring out kayaks. The following payments made by the business have been all credited in the Bank account. Thelma wishes to know whether each payment would increase or decrease an asset, expense or a liability.

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Reason for the payment Paid for a Bedford van Paid as staff salary Paid to part settle a loan from Omar Paid to buy ten kayaks Paid as rent Paid to buy desktop computers for office use Amount £18,000 £7,200 £5,000 £15,000 £6,000 £1,500 Asset Expense Liability