For each of the following independent events, indicate the amounts and direction of effects on the elements of the statement of financial position and statement of earnings. Using the following format, indicate + for increase, and - for decrease, and NE for no effect. Also, included the specific account name affected.

Transactions:
Eg: Rent in the amount of $1,500 is owing to the landlord at year end.
1) Received $400 smart phone bill to be paid next month.
2) Paid $1,800 for insurance coverage that begins next month.
3) Assets currently include prepaid rent expense of $2,800 of which $1,600 has expired by year end.
4) Owe employees $6,000 at the end of the year.
5) Supplies used during the year is $4,000. This amount is currently recorded in the office supplies inventory account.
6) Customers redeemed $350 of gift cards which were recorded as deferred revenue when issued.
7) Sold goods to customers for $5,200 on account. Cost of goods sold was $3,000.
8) Purchase $7,000 of inventory on credit.
9) Purchased $40,000 of equipment, for $15,000 cash and the remainder on a note payable.