PROBLEMS 9-23. For each of the transactions below, record whether it would result in an increase or decrease in assets and/ or liabilities. An organization 1. purchases supplies with cash. 2. purchases supplies on account. 3. takes out a loan. 4. repays loan principal. 5. receives payment on a pledge. 6. makes a payment on an amount it owes. 7. prepays for insurance. 8. pays employee wages that were earned by the employees. 9. begins using office space with a 10-year lease for the property