2. Show the effects on assets, liabilities and equity for the following transactions. Please use the symbol (+) if increase and (-) if decrease: Example: Bought machinery Assets Liabilities Equity + Machinery RM10,000 with cash RM1,000 |- Cash RM1,000 a) Started business with cash RM20,000, motor vehicle RM50,000 and furniture RM3,000. b) Equipment costing RM15,000 was bought. A down payment of RM2,000 in cash was paid upfront. The balance was financed by taking a three-year loan from SBS Bank. c) Purchased goods worth RM3,680 from Alexa Sdn Bhd. paid by cheque RM1,000 and balance to be paid the next month. d) Paid electricity bill by online banking RM330. e) Sold goods costing RM1,600 for RM2,200. Payment will be collected next month. f) Owner paid RM500 from the business cash for his family's holiday expenses. (16 marks)