Accounts Receivaoie Office Equipment Accounts Payable Dividends Professional Fees Earned Common Stock Wage Expense E2-5A. Transaction Analysis Match each of the following transactions of Lesch & Company with the ap LO4 propriate letters, indicating the debits and credits to be made. The key for the letters follows the list of ions. The correct answer for Transaction (1) is given as an illustration: Answer 1. Purchased supplies on account. 2. Paid interest on note payable. 3. Paid cash dividend to stockholders 4. Returned some defective supplies and received a reduction in the amount owed. 5. Made payment to settle note payable. 6. Received an invoice for utilities used. 7. Received payment in advance from client for work to be done next month. 8. Received additional capital contribution from stockholders. Financial Efect of Transaction a. Debit an asset b. Credit an asset c. Debit a liability d. Credit a liability e. Debit common stock f Credit common stock g. Debit dividends h. Credit dividends i. Debit a revenue j. Credit a revenue . Debit an expense L. Credit an expense