Given below is a list of transactions:

1. The settlement of an accounts payable by paying cash.
2. The settlement of an accounts payable by issuing a notes payable.
3. The purchase of equipment on credit.
4. An adjusting entry to record accrued salary.
5. The collection of interest previously accrued.
6. An adjusting entry to recognize periodic depreciation.

Match the effect of each transaction above with one of the effects given below.

a. Increase in assets, increase in liabilities

b. Increase in assets, decrease in liabilities

c. Increase in assets, decrease in assets

d. Decrease in Assets, decrease in liabilities

e. Decrease in liabilities, increase in liabilities

f. Increase in liabilities, decrease in owners equity

g. Decrease in liabilities, increase in owners equity

h. Increase in assets, increase in owners equity

i. Decrease in assets, decrease in owners equity

Bonus: Which of the effects in the list given above is never possible?