Transaction: HE Cavalier Co. pays for an advertisement for the business, $1,200. Required: For the transaction above, complete the following: (a) Select the accounts that are affected (there will be at least two). (b) Are the selected accounts increased or decreased? (C) What is the dollar amount of change in the accounts? (d) If Equity is selected, choose the reason that it has changed. Account Which accounts are affected? Is the account increased or decreased? What is the amount of transaction? Why has Equity changed? Cash Increase Decrease $0 Accounts Receivable Increase Decrease On December 31, Gonzales Co. had the following list of accounts and their respective annual balances. Accounts Payable $ 23,500 Entertainment Expense $ 7,000 Accounts Receivable 68,500 Legal Expense 5,700 Beginning Capital 147,900 Prepaid Rent 22,600 Cash 65,100 Rent Expense 1,900 Consulting Revenue 42,300 Supplies 22,100 Deferred Revenue 5,500 Supplies Expense 5,500 Drawing 20,800 LUIT, Swer the questions that follow in accordance with the rules of journalizing and the double-entry accounting syst Transaction: Martinez Company received utility bill for the current month of $600 and paid it. Which two accounts are afected? Choose one Choose one What kind of accounts are they? Choose one Choose one Do the account balances increase or decrease) Increase Decrease Increase Decrease Do we debitor credit the Debit Creat Debit O Creat On December 31, Lee Company had the following adjusted trial balance: Account Titles Debit Credit Cash 18,870 Accounts Receivable Prepaid Rent 8,020 5,860 30,800 Equipment Accumulated Depreciation 8,000 21,160 Accounts Payable Capital 46,500 Drawing 14,700 Sales 69,000 Sales Discounts 700