Indicate the effects of the below transactions on each of the element of income statement and balance sheet in tabular form. Use the following symbols: I=Increase, D=Decrease, and NE=No effect.

Following are the transactions made by John Corporation during the month of November

a. Issued stock in exchange for cash.

b. Purchased land. Made partial payment with cash and issued a note payable for the remaining balance.

c. Recorded utilities expense for November. Payment is due in mid-December.

d. Purchased office supplies with cash.

e. Paid outstanding salaries payable owed to employees for wages earned in October.

f. Declared a cash dividend that will not be paid until late December.

g. Sold land for cash at an amount equal to the lands historical cost.

h. Collected cash on account from customers for services provided in September and October.