ing the month, a company enters into the folowing transactions Buys $8,750 of supplies on account Pays $0,000 cash for new equipment Pays off $4.800 of accounts payable. Pays off $2.450 of notes payable. quired: Show the effect of these transactions account balances with a minus sign) on the basic accounting equation. (Enter any decreases to Liabilitie S Stockholders Equity b. b. Prepare the joumal entries that would be used to record the transactions (if no entry is required for transactionievent, seleet "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the purchase of supplies on account for 0,750, b. Prepare the journal entries that would be used to record the transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 2 Record the purchase of supplies on account for $8,750. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal . Prepare the journal entries that would be used to record the transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the payment of cash of $6,900 for new equipment. Note: Enter debits before credits ransaction General Journal Debit Credit Record entry Clear entry View general journal b. Prepare the journal entries that would be used to record the transactions. (If no entry is required for a transactionlevent, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the entry for cash used to pay off notes payable for $2,450. Note: Enter debits before credits. Debit Credit ransaction General Journal Record entry Clear entry View general ournal