We know that the double-entry system of accounting means that every transaction has at least two effects on the accounting equation. Can you give one example of each of the transactions that are mentioned below? Here is an example of: One asset goes up and another asset goes down. This would represent Cash and Accounts Receivables. Each are asset accounts. As a payment is received for an account receivable, the Account Receivable Account is credited which reduces the balance and Cash is debited which increases the Cash account.

1. An asset and a liability both go up
2. One liability goes up and another liability goes down
3. An asset goes up and the equity goes up, too