Indicate the impact on the accounting equation of each of the following transactions: Cash is used to purchase equipment. No effect. Increases assets and increases stockholders' equity. Increases assets and increases liabilities. Decreases assets and decreases stockholders' equity. Indicate the impact on the accounting equation of each of the following transactions: Borrowed money from bank by signing a note payable. Increases assets and increases stockholders' equity. No effect. Increases assets and increases liabilities. Decreases assets and decreases stockholders' equity. 38 Indicate the impact on the accounting equation of each of the following transactions: Purchased supplies for the copier on account. Increases assets and increases liabilities. O Increases assets and increases stockholders' equity. Decreases assets and decreases stockholders' equity. No effect. 1 Indicate the impact on the accounting equation of each of the following transactions: A customers paid cash the same day that services were rendered. Decreases assets and decreases stockholders' equity. O Increases assets and increases stockholders' equity. Increases assets and increases liabilities. No effect. 3. Indicate the impact on the accounting equation of each of the following transactions: Executed a 24-month insurance policy and paid it in full. Decreases assets and decreases stockholders' equity. No effect. Increases assets and increases liabilities. Increases assets and increases stockholders' equity. T R Indicate the impact on the accounting equation of each of the following transactions: Paid payroll at the end of the month. (Wages were not accrued.) Increases assets and increases liabilities. Decreases assets and decreases stockholders' equity. Increases assets and increases stockholders' equity. No effect. 57 3 For this adjusting journal entry for December 31, 2020, select the amount and the accounts to debit and credit. Rogers Inc. has three employees who each earn $120 per day. At December 31, four days' salaries have been earned but not paid. Amount [] Debit Credit [] []