Exercise 1-13 Identifying effects of transactions on the accounting equation QP1 The following table shows the effects of transactions 1 through 5 on the assets, liabilities, and equity of Mulan's Boutique. Page 29 Assets Liabilities + Equity Cash + + Common + Revenues Stock $43,000 + $ 0 $21,000 + Accounts + Supplies + Land = Accounts Receivable Payable $ 0 + $3,000 + $19,000 = $ 0 + + 4,000 1,000 +1,000 1,900 1. -4,000 2. + 3 1,900 -1,000 -1,000 4. 5. 1,900 +1,900 $17,900 + $ 0 + $4,000 + $23,000 $ 0 + $43,000 + $1,900 Identify the explanation from a through j that best describes each transaction 1 through 5. a. The company purchased $1,000 of supplies on credit. b. The company collected $1,900 cash from an account receivable. c. The company sold land for $4,000 cash. d. The company paid $1,000 cash in dividends to shareholders. e. The company purchased supplies for $1,000 cash. f. The company purchased land for $4,000 cash. g. The company billed a client $1,900 for services provided. h. The company paid $1,000 cash toward an account payable. i. The owner invested $1,900 cash in the business in exchange for its common stock. j. The company sold supplies for $1,900 on credit