Indicate the accounts, amounts, and direction of the effects on the accounting equation (Assets = Liabilities + Stockholders Equity). Enter the exact amount of the transaction or 0 for No Effect in the 3rd box of each line. Do not include the dollar sign. Purchased $1,000 in equipment, paying $200 cash and promising the rest on a note due in one year.

Assets 1: Answer________: Select One: Cash, Accounts Receivable, Supplies, Prepaid Expense, Furniture and Fixtures, Equipment, Accounts Payable, Notes Payable, Common Stock, Retained Earnings, Service Revenue, Supplies Expense, Repairs Expense, No Effect.

Answer_______: Select One: Increase, Decrease, No Effect.

Answer_____

Assets 2: Answer_______: Select One: Cash, Accounts Receivable, Supplies, Prepaid Expense, Furniture and Fixtures, Equipment, Accounts Payable, Notes Payable, Common Stock, Retained Earnings, Service Revenue, Supplies Expense, Repairs Expense, No Effect.

Answer_____: Select One: Increase, Decrease, No Effect. Answer_____

Liabilities: Answer________: Select One: Cash, Accounts Receivable, Supplies, Prepaid Expense, Furniture and Fixtures, Equipment, Accounts Payable, Notes Payable, Common Stock, Retained Earnings, Service Revenue, Supplies Expense, Repairs Expense, No Effect.

Answer_______: Select One: Increase, Decrease, No Effect.

Answer_______

Shareholders' Equity: Answer_______: Select One: Cash, Accounts Receivable, Supplies, Prepaid Expense, Furniture and Fixtures, Equipment, Accounts Payable, Notes Payable, Common Stock, Retained Earnings, Service Revenue, Supplies Expense, Repairs Expense, No Effect.

Answer_____:Select One: Increase, Decrease, No Effect.

Answer______