Use the following to answer questions 6 - 8 Analyze each transaction. Under each category in the accounting equation, indicate whether the transaction: A. increases, B. decreases, or C. has no effect. The item (a) is provided as an example. (a) Provided services to a customer on account. (Revenue increases causing Stockholders' Equity to increase, Assets increase, and no effect on Liabilities). 6. Borrowed money from the bank. 7. Purchased land by signing a note payable. 8. Used supplies for the month. Stockholders' Equity Asset Liability la)