For each of the transactions below, record whether it would result in an increase or decrease in assets and/or liabilities. An organization:

1. Purchases supplies With cash.

2. Purchases supplies on account.

3. Takes out a loan.

4. Repays loan principal.

5. Receives payment on a pledge.

6. Makes a payment on an amount it owes.

7. Prepays for insurance.

8. Pays employee wages that have been earned.