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 O for No Effect in the 3rd box of each line. Do not include the dollar sign.

Bought and received $700 of supplies on account. Assets 1: Liabilities: Shareholders' Equity:

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. Bought and received $700 of supplies on account. Assets 1 : Liabilities: Shareholders' Equity