Part B: Analyzing the Effects of the Recording Business Transaction in the Accounting Based on the Principles of Debit and Credit 1. For each of the following accounts indicate the effect of a debit or a credit on the account and the normal balance. Increase (+), Decrease (-). (6 Marks) Debit Credit Normal Balance a. Salaries and wages expense. b. Accounts receivable. Service revenue. d. Owner's Capital. e. Owner's Drawings. f. Supplies 2. Identify the impact on the accounting equation of the following transactions. (4 Marks) a. Purchased 36-month insurance policy for cash. b. Purchased supplies on account. c. Received utility bill to be paid at later date. d. Paid utility bill previously accrued