Take me to the text Match each term with the appropriate description. Merchandising . Service Manufacturing Accounts Receivable - Cash A law firm is an example of this type of business. This is the most liquid asset. Choose... Choose... O This type of business buys goods to resell to customers. Choose... O An automaker is an example of this type of business. Choose... This account represents the amount owed to the business by its customers for services performed Choose... earlier. Check hmit the attempt, go to the end of the quiz and click on the "submit all Simpson Moving had the following transactions during the month. Indicate whether assets, labilities or owner's equity will increase or decrease and by how much, based on each transaction. The first entry has been done for you. Always ensure the accounting equation is balanced Do not enter dollat signs or commas in the input boxes Use the negative sign for negative values Where a transaction affects two accounts in the same category.enter the positive amount in the first space provided and enter the negative amount in the second space directly below. Transaction Paid $200 cash for maintenance expense 1) The owner invested $9,660 cash into the business. 2) Paid $4,930 cash for one year of insurance. Assets Liabilities 200 Owner's Equity 200 3) Received a telephone bill for $200 which will be paid later. 4) Purchased equipment worth $990 on account. 5) Provided services and collected 53,700 cash 6) Paid $900 towards the bank loan Contact us