Simpson Moving had the following transactions during the month. Indicate whether assets, liabilities or owner's equity will increase or decrease and by how much, based on each transaction. Provide an explanation only if equity is affected. The first entry has been done for you. Always ensure the accounting equation is balanced. Assets =Llabilities + Owner's Explanation Equity 1. Paid $200 cash for maintenance expense. -200 -200 Paid for maintenance expense 2. The owner invested $4,000 cash in the business. 3. Paid $2,400 cash for one year insurance. 4. Received a telephone bill for $150, which will be paid later. 5. Purchased equipment worth $1,000 on account. 6. Provided services and collected $4,200 cash. 7. Paid $500 towards the bank loan. 8. Paid $50 interest related to the bank loan. 9. Paid $700 of accounts payable