For each of the following transactions of Woods Inc., identify the accounts effected and the whether they were increased or decreased. Remember cash is an account but assets are a group of accounts. You need to identify the individual accounts not group of accounts. 1. Received cash for services rendered. 2. Billed a customer for services rendered. 3. Paid monthly rent. 4. Purchased supplies on account. 5. Purchased an equipment by paying a down payment and agreeing the pay the remaining balance due a month later Transaction Accounts Increase/Decrease 2 3 4 5