"For each of the following transactions, select the account and its effect on the basic accounting equation (Assets = Liabilities + Shareholders equity) (If no entry is required select no entry for the account. For the effect, select "+" for increase "-" for decrease and "NE" for no effect.

Please state the right account and effect for each of the boxes that are outlined in red.

Thank you.

Transaction Assets a. Issuance of shares for cash. Cash b. Purchase of land for cash. Land c. Sale of services to a customer on credit. Accounts Receivable d. Receipt of cash from customers as payments on their accounts. Accounts Receivable e. Payment of cash to shareholders as a distribution of earnings. Retained Earnings f. Receipt of a loan from a bank. \begin{tabular}{|ll} \hline NE & \\ \hline Bank Loan \\ \hline \end{tabular} g. Payment of interest on the bank loan. Bank Loan Payable h. Purchase of inventory on credit. Inventory i. Payment of an account payable. Accounts Payable j. Payment to a courier company for delivering goods to a customer. Accounts Payable k. Payment of an insurance premium to cover the following year. Prepaid Insurance I. Depreciation of equipment. No Entry Depreciation Expense