Question 8 (15 points] Gulf Corp. recorded the following transactions during June, Indicate whether each transaction would cause an increase ( + ), decrease (-). or has no effect (NE) on each of the components of the accounting equation. If a transaction causes a decrease in one component of the accounting equation and also an increase in the same component but in a different account, select ( +/-). Assume a perpetual inventory system. A = L + E a) Received the balance due for an earlier sale (within the discount period). b) Gulf Corp purchased merchandise for $2,900 under credit terms of 2/15. n/30, FOB destination. C) Paid $375 shipping charges related to an earlier purchase of merchandise d) Paid $425 shipping charges related to an earlier sale, e) Received the balance due for an earlier sale (beyond the discount period) After negotiations with a supplier concerning problems with the merchandise purchased earlier, received a credit memorandum granting a price reduction of $10,600, 9) Gulf Corp purchased merchandise for $8,400 cash, FOB destination h) Gulf Corp. sold merchandise for $6,000 under credit terms of 2/16, 1/30, FOB factory. The merchandise had cost $5,700. b) Gulf Corp.'s merchandise was sold for $9,300 cash. The merchandise cost $7,905. Paid the balance due on an earlier purchase (beyond the discount period) k) Paid $300 for freight charges on an earlier sale 1) Gulf Corp. purchased merchandise for $7,600 cash. FOB destination m) Gulf Corp. sold merchandise that cost $4,700 for $9,400 cash n) Issued a $14,500 credit memorandum to a customer for an allowance on goods sold earlier. o) Gulf Corp.'s merchandise that cost $1,260 was sold for $1,800 under credit terms of 2/10, n/30, FOB destination A = L + E NE +/