Select the transaction that increases liabilities.

Received cash from a bill sent to customers last month

Purchase inventory for cash

Paid insurance for the next $3$ months

Received utility bill

Select the transaction that increases owner's equity.

Provided consulting services for cash

Purchase inventory for cash

Received cash from a bill sent to customers last month

Paid insurance for the next $3$ months

The proper journal entry to record the $$150$ payment of last month's advertising bill would be:

Dr$.$ Cash $150,$ Cr$.$ Advertising Expense $150$

Dr$.$ Advertising Expense $150,$ Cr$.$ Accounts payable $150$

Dr$.$ Accounts payable $150,$ Cr$.$ Cash $150$

Dr$.$ Advertising Expense $150,$ Cr$.$ Cash $150$