Question 1 Bevan Enterprises paid monthly rent. The effect of this transaction on the basic accounting equation is: Not yet saved Marked out of 1.00 P Flag question a. Increase in assets and increase in liabilities. b. Decrease in assets and increase in liabilities. C. Decrease in assets and decrease in equity. d. Decrease in assets and increase in equity. Question 2 Purchased furniture for $12500 from Fantastic Australia, payable in 30 days. The journal entry to record the transaction is: Not yet saved Marked out of 1.00 P Flag question a. debit, furniture $12500 and credit, cash $12500. b. debit, furniture $12500 and credit, accounts payable $12500. C. debit, furniture $12500 and credit, expenses $12500. d. debit, cash $12500 and credit, furniture $12500. Question 3 The following represents the T account for Cash at Bank for the month of June 2020 Not yet saved Marked out of 1.00 Cash at Bank 1/6 Capital $25,0001/6 $2,800 P Flag question Prepaid Insurance 15/6 Service Revenue $15,0008/6 Computer $4,500 The balance of cash at bank to be included on the trial balance as at 30 June 2020 is; a. $25,000 Credit b. $32,700 Debit C. $40,000 Debit d. $7,300 Credit