Listed below are descriptions of six transactions, followed by a table listing six unique combinations of financial statement effects (I is for increase, D is for decrease, and NE is for no effect). In the blank space to the left of each transaction description, place the appropriate letter from the table that indicates the effects of that transaction on the various elements of the financial statements.

1. ____ Purchased machinery for $5,000, paying $1,000 cash and issuing a $4,000 note payable for the balance.
2. ____ Billed clients $16,000 on account.
3. ____ Recorded a $500 maintenance expense of which $100 was paid in cash and the remaining amount was due in 30 days.
4. ____ Paid an outstanding account payable of $400.
5. ____ Recorded monthly utilities costs of $300. The entire amount is due in 20 days.
6. ____ Declared a $40,000 dividend to be distributed in 60 days.