1. Indicate the accounts, amounts, and direction of the effects on the accounting equation (Assets = Liabilities + Stockholders Equity). Enter the exact amount of the transaction or 0 for No Effect in the 3rd box of each line. Do not include the dollar sign.

The Company borrowed $3,940 from a local bank on a note due in six months

Assets 1: Answer________: Select one: Cash ,Accounts Receivable, Supplies, Prepaid Expense ,Furniture and Fixtures, Equipment, Accounts Payable, Notes Payable ,Common Stock, Retained Earnings, Service Revenue, Supplies Expense ,Repairs Expense ,No Effect

Answer_______ : Select One: Increase ,Decrease, No Effect.

Answer______

Liabilities: Answer______ : Select One : Cash, Accounts Receivable, Supplies, Prepaid Expense, Furniture and Fixtures, Equipment, Accounts Payable, Notes Payable , Common Stock , Retained Earnings, Service Revenue, Supplies Expense, Repairs Expense, No Effect

Answer________ : Select One: Increase, Decrease, No Effect.

Answer_____

Shareholders' Equity: Answer _____: Select One: Cash, Accounts Receivable, Supplies, Prepaid Expense, Furniture and Fixtures, Equipment, Accounts Payable, Notes Payable, Common Stock, Retained Earnings, Service Revenue, Supplies Expense, Repairs Expense, No Effect.

Answer_______: Select One: Increase, Decrease, No Effect.

Answer______