2 [15 points] Gulf Corp, recorded the following transactions occurred during the month of December Indicate whether each transaction would cause an increase (+), decrease (-), or has no effect (NE) on each of the components of the accounting equation. If a transaction causes a decrease in one component of the accounting equation and also an increase in the same component but in a different account, select (+/-) a) Gulf Corp. purchased equipment for $47,500, borrowing this amount from the bank through a short-term note payable b) Gulf Corp. used credit to purchase $2,500 of equipment c) Susan West (a shareholder), received share capital in Gulf Corp, after investing $45,000 cash and $15,000 worth of supplies in Gulf Corp. d) Susan West, a shareholder of Gulf Corp., received share capital after investing furniture worth $8,000 and a building worth $50,000 into the business e) Gulf Corp. hired a new employee for $750 bi-weekly. He will begin working next month f) A client rented equipment for $700 cash. g) Gulf Corp. received this month's utilities bill today and paid it immediately, $450 h) A bill was received today for last wook's $500 advertising campaign. It must be paid within 15 days ) Gulf Corp. paid a $1,000 bill received today for an advertising campaign that ran last week i) Susan West (a shareholder), received share capital in Gulf Corp., after investing $15,000 of supplies into the business k) Gulf Corp. purchased $800 of supplies on credit 1) Office salaries for the month were paid today: $2,750. m) Gulf Corp. used $750 cash and $3,000 credit to purchase new equipment worth $3,750 n) Susan West (a shareholder), received share capital in Gulf Corp., after investing $30,000 cash and $55,000 worth of equipment in Gulf Corp. o) Gulf Corp will pay this month's utilities bill of $100 received today, within 30 days. A LIE 27 M CING ww