course on 13 Analyze the transactions of a business organized as a proprietorship described below and indicate their effect on the basic accounting equation. Use a plus sign (+) to indicate an increase and a minus sign () to indicate a decrease. red out of Liabilities + Assets Owner's g question Equity 1. Received cash for services rendered. 2. Purchased office equipment on credit. 3. Paid employees' salaries. 4. Received cash from customer in payment on account. 5. Paid telephone bill for the month. 6. Paid for office equipment purchased in transaction 2 7. Purchased office supplies on credit. 8. Owner withdrew cash for personal expenses. 9. Obtained a loan from the bank