Question 1: For each of the transactions identified, state how the asset, liability and/or equity accounts increase (), decrease (L) or remain unchanged (-). Name the account (a is an example) (20 Marks) ASSETS (A) LIABILITIES (L) + EQUITY (E) A. Obtained a loan to Equipment $65000 Loan $65000 purchase equipment for $65 000. b. Customer pays $2000 of $5000 owing for services provided. A trade receivable, who owes $6000, made a part payment of $2000 The owners took $5000 in inventory for personal use but returned $2500 on same day Returned supplies (faulty) $2000 previously paid on credit Invoice raised for sales of $5200 & Paid rent $4000 with 30% being a prepayment 1. Paid personal tax $7000 and company tax $8200 Interest accrued (not paid) on bank loan at the end of the month $2750 and principal of $10000 paid The business purchases supplies on credit $4400