13. Diamond Company had the following transactions during June Performed services for $5,000 on account; received cash on account, $7,000; paid $600 for repair expense; paid $2,000 to a supplier that it owed from the previous month. What is the combined effect on Cash of these June transactions? A) $4,400 increase B) $4,400 decrease C) $7,000 increase D) $2,600 decrease 14) Mitchell Company receives a bill from one of its suppliers for advertising services received and will pay the supplier next month. How does the receipt of the bill from the supplier affect the accounting equation of Mitchell? A) assets and equity decrease B) liabilities increase and equity decreases C) assets and liabilities increase D) liabilities and equity increase