1B-6. (Similar to problem 1B-2) Show the effect on the accounting equation of the following events for the APRIL Company. Example: Investors purchased common stock in APRIL for $1,000 cash. Answer: Assets (cash) increased Owners' equity (common stock) increased a. APRIL borrowed $8,000 from the bank on a note. b. APRIL purchased a desk and two chairs for $1,500 cash. c. APRIL purchased supplies on account for $700. d. APRIL provided services to others for $7,200 cash. e. APRIL provided services to others for $2,300 on account f. APRIL paid $280 cash for a newspaper ad. g. APRIL collected $600 of the money it was owed due to the services provided in e. h. APRIL paid off $300 of its supplies account created in c. i. APRIL paid its utility bill in the amount of $400 cash. j. APRIL paid a dividend to its investors in the amount of $500 cash. k. APRIL paid off half of its bank note from a. by giving the bank $4,000 of common stock Determine which accounts increase and/or decrease for each of the transactions. a. g. b. h. 1. C. d. k