4 PROBLEM #1: On September 1 of this year, Archie Green established Ace Delivery Service. During the month the company had the transactions shown below. Using the following codes, indicate how each of the transactions would affect the accounting equation. 5 6 7 8 + 8 ASSETS LIABILITIES OWNERS EQUITY Increase Decrease Increase Decrease 9 Increase Decrease 10 4 6. 3 5 Answer Code... 1 2 11 ANSWERS 12 13 14 15 16 17 18 19 20 21 22 23 24 Paid off an account payable...... Bought equipment for cash.. The owner invested cash into the business, Purchased supplies on account.... Paid for last month's newspaper advertising. Paid a year's insurance policy in advance. Borrowed cash from the bank........... Provided delivery services for cash. Provided delivery services on credit... Collected payment from a customer previously billed......... Owner wrote himself a check to pay for dental work on the family dog