51 - 11. Entering transactions in the accounting equation ( Learning Objective 51 5 - 10 min . AS a manager of a department store , You must deal with a variety' Of business transat - tions . Place the letter of each of the following transactions next to the effect it has on the accounting equation . a . Paid cash to the stockholders as a distribution of Earnings . 6 . Paid cash to purchase land for building site* c. Paid cash on an account payable. d. Sold stock to stockholders . { . Received cash from the bank in exchange for a note payable. 1 . Increase an asset and increase stockholders' Equity! 2. Increase an asset and increase a liability. 3. Increase ONE asset and decrease another asset . 4. DECREASE an asset and decrease Stockholders' equity* LECTEESE EM asset and decrease & liability