Indicate the net effect (+ for increase; – for decrease; 0 for no effect) of each of the following transactions on each part of the accounting equation, Assets = Liabilities + Equity. For example, for payment of an accounts payable balance, A (–) = L (–) + E (0).
A. Sale of merchandise to customer on account
B. Payment on note payable
C. Purchase of equipment for cash
D. Collection of accounts receivable
E. Purchase of supplies on account