of each transaction on the accounting equation. Select answers in the space provided under the accounting equation. You need an identification code for eacth element of the accounting equation. An example is given before the first transaction Assets Liabilities Stockholders Equity Example A stockholder invests in his new business by giving equipment valued at $3,500. A) Cash sales are made. B) Equipment is purchased on credit C) Payment is made for the equipment purchased on credit in (B). D) The company sold excess supplies to another company on credit. E) Cash is collected from customers for accounts receivable balances. Increase No Effect Increase