Ex. Presented below are three business transactions. On a sheet of paper, list the letters (a), (b), and (c) with columns for assets, liabilities, and owners equity. For each column, indicate whether the transactions increased (1), decreased (2), or had no effect (NE) on assets, liabilities, and owners equity. (a) Purchased supplies on account. (b) Received cash for providing a service. (c) Paid expenses in cash.