Identify the impact on the accounting equation of the folowing transactians. fSeiect increale. decrease or no effect for the inipoct on the (ransactions.) 1. Purchased 24 menth insurance polky for cash 2. Parchased supplies on account. 3. Heceived a utility bill to be paid at later idate. 4. Paid utility bill previously acorued. Question 1 of 4 Transaction Debit Credit 1. Purchased an 18 . month insurance policy for cash. 2. Paid weekly payroil. 3. Purchased supplies on account. 4. Received a utility bill to be paid at later date