Indicate the effect each of the following transactions has on the accounting equation (i.e., assets, liabilities, and equity). Enter the number corresponding to your answer in the box provided. Answer choices may be used once, more than once, or not at all. Be careful with matching questions because carmen randomizes the matches. Thus, if you print out the quiz to work on it and then enter your answers later in the week, it is very likely the order of the matches will be different. Therefore, exercise caution when entering your answers into carmen. Quiz scores will not be adjusted for errors in entering choices.

Performed services for a customer who had paid for these services in the previous month

[ Choose ] assets increase; liabilities increase; equity no effect assets no effect; liabilities increase; equity decrease assets increase; liabilities increase; equity increase assets decrease; liabilities decrease; equity no effect assets increase; liabilities decrease; equity decrease assets increase; liabilities no effect; equity increase assets no effect; liabilities increase; equity no effect assets decrease; liabilities no effect; equity decrease assets no effect; liabilities no effect; equity no effect assets no effect; liabilities decrease; equity increase

Collected cash from customers for services performed for the customers in the previous month

[ Choose ] assets increase; liabilities increase; equity no effect assets no effect; liabilities increase; equity decrease assets increase; liabilities increase; equity increase assets decrease; liabilities decrease; equity no effect assets increase; liabilities decrease; equity decrease assets increase; liabilities no effect; equity increase assets no effect; liabilities increase; equity no effect assets decrease; liabilities no effect; equity decrease assets no effect; liabilities no effect; equity no effect assets no effect; liabilities decrease; equity increase

Purchased a piece of equipment by paying 1/2 down and agreeing to pay the remainder in 30 days

[ Choose ] assets increase; liabilities increase; equity no effect assets no effect; liabilities increase; equity decrease assets increase; liabilities increase; equity increase assets decrease; liabilities decrease; equity no effect assets increase; liabilities decrease; equity decrease assets increase; liabilities no effect; equity increase assets no effect; liabilities increase; equity no effect assets decrease; liabilities no effect; equity decrease assets no effect; liabilities no effect; equity no effect assets no effect; liabilities decrease; equity increase