1) A Beauty Salon is what type of business: 1 Point O Manufacturing Service O Retail 2) Based on this entry "Supplies" are listed as: 1 Point Transaction Nov. 10 NetSolutions purchased supplies on account for $1,350. Analysis This transaction increases an asset account and increases a liability account. It is recorded in the jo as a $1,350 increase (debit) to Supplies and a $1,350 increase (credit) to Accounts Payable. Journal Entry 1,350 Nov. 10 Supplies Accounts Payable Purchased supplies on account 1,350 Download file an Asset account O a revenue account O a Liability account 3) What is the accounting equation? 1 Point Assets = Liabilities Stockholders Equity 4) Unearned Revenue is 1 Point The liability created by receiving the cash in advance of providing the service