Purchase $300 worth of supplies from a vendor on credit. ("On credit, " or "on account." means that the company received the supplies now and will pay for them later.) Decide if a transaction took place. Identify the accounts affected. Classify each account affected. Identify direction and amount. Ensure the accounting equation is in balance. Sign contact for first website design for $10,000. Decide if a transaction took place. Identify the accounts affected. Classify each account affected Identify direction and amount. Ensure the accounting equation is in balance