Kam Computer Timeshare Company entered into the following transactions during May 2014.

Describe the effect of each transaction on assets, liabilities, and owners equity.

1.	Purchased computer terminals for $20,000 from Digital Equipment on account.	An increase in assets and a decrease in assetsAn increase in assets and an increase in owners equityAn increase in assets and an increase in liabilitiesA decrease in assets and a decrease in owners equityA decrease in assets and a decrease in liabilitiesAn increase in liabilities and a decrease in owners equityAn increase in owners equity and a decrease in liabilities
2.	Paid $4,000 cash for May rent on storage space.	An increase in assets and a decrease in assetsAn increase in assets and an increase in owners equityAn increase in assets and an increase in liabilitiesA decrease in assets and a decrease in owners equityA decrease in assets and a decrease in liabilitiesAn increase in liabilities and a decrease in owners equityAn increase in owners equity and a decrease in liabilities
3.	Received $17,000 cash from customers for contracts billed in April.	An increase in assets and a decrease in assetsAn increase in assets and an increase in owners equityAn increase in assets and an increase in liabilitiesA decrease in assets and a decrease in owners equityA decrease in assets and a decrease in liabilitiesAn increase in liabilities and a decrease in owners equityAn increase in owners equity and a decrease in liabilities
4.	Performed computer services to Viking Construction Company for $3,000 cash.	An increase in assets and a decrease in assetsAn increase in assets and an increase in owners equityAn increase in assets and an increase in liabilitiesA decrease in assets and a decrease in owners equityA decrease in assets and a decrease in liabilitiesAn increase in liabilities and a decrease in owners equityAn increase in owners equity and a decrease in liabilities
5.	Paid Tri-States Power Co. $11,000 cash for energy usage in May.	An increase in assets and a decrease in assetsAn increase in assets and an increase in owners equityAn increase in assets and an increase in liabilitiesA decrease in assets and a decrease in owners equityA decrease in assets and a decrease in liabilitiesAn increase in liabilities and a decrease in owners equityAn increase in owners equity and a decrease in liabilities
6.	Kam invested an additional $29,000 in the business.	An increase in assets and a decrease in assetsAn increase in assets and an increase in owners equityAn increase in assets and an increase in liabilitiesA decrease in assets and a decrease in owners equityA decrease in assets and a decrease in liabilitiesAn increase in liabilities and a decrease in owners equityAn increase in owners equity and a decrease in liabilities
7.	Paid Digital Equipment for the terminals purchased in (1) above.	An increase in assets and a decrease in assetsAn increase in assets and an increase in owners equityAn increase in assets and an increase in liabilitiesA decrease in assets and a decrease in owners equityA decrease in assets and a decrease in liabilitiesAn increase in liabilities and a decrease in owners equityAn increase in owners equity and a decrease in liabilities
8.	Incurred advertising expense for May of $1,200 on account.	An increase in assets and a decrease in assetsAn increase in assets and an increase in owners equityAn increase in assets and an increase in liabilitiesA decrease in assets and a decrease in owners equityA decrease in assets and a decrease in liabilitiesAn increase in liabilities and a decrease in owners equityAn increase in owners equity and a decrease in liabilities

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