The selected transactions below were completed by Cota Delivery Service during July:

Indicate the effect of each transaction on the accounting equation by choosing the appropriate letter from the following list:

Increase in an asset, decrease in another asset.

Increase in an asset, increase in a liability.

Increase in an asset, increase in stockholders' equity.

Decrease in an asset, decrease in a liability.

Decrease in an asset, decrease in stockholders' equity.

1. Received cash in exchange for common stock, $35,000.

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2. Purchased supplies for cash, $1,100.

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3. Paid rent for October, $4,500.

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4. Paid advertising expense, $900.

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5. Received cash for providing delivery services, $33,000.

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6. Billed customers for delivery services on account, $58,000.

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7. Paid creditors on account, $2,900.

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8. Received cash from customers on account, $27,500.

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9. Determined that the cost of supplies on hand was $300 and $8,600 of supplies had been used during the month.

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10. Paid cash dividends, $2,500.

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