Financial Statement Impact Shown below are some typical transactions.

Instructions
For each transaction, state whether the item at the top of each column will increase, decrease, or remain unchanged.

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Transaction Selling common shares for cash Paying off an account payable Buying supplies on credit Borrowing money with payment due in five years Buying land with cash Using up supplies Paying for prepaid insurance Using utilities that the company will pay for later Collecting an account receivable Current Current Assets Liabilities Retained Cash Earnings Flow