FOR EACH OF THE FOLLOWING TRANSACTIONS BELOW, RECORD WHETHER IT WOULD RESULT IN AN INCREASE OR DECREASE IN ASSETS AND OR LIABILITIES. AN ORGANIZATION:

1. Purchased supplies with cash

2. purchase supplies on account

3.takes out a loan

4. repays loan principal

5. receives payment on a pledge

6. makes a payment on an amount it owes

7. pre pays for insurance

8. pays employee wages that have been earned