Question 7 Analyze the transactions of a business organized as a proprietorship described below and indicate whether the transaction increased, decreased or increased and decreased the accounting equation Llabilities + Assets Owner's Equity 1. Received cash for services rendered. 2 Purchased office equipment on credit. 3. Paid employees' salaries. Received cash from customer in payment on account. 5. Paid telephone bill for the month. 5. Paid for office equipment purchased in transaction 2. 7. Purchased office supplies on credit. B Owner withdrew cash for personal expenses. 9 Obtained a loan from the bank. 10. Billed customers for services rendered. Question Attempts: 0 of 1 used LAVE FOR LATER SUBMIT AN