Presented below are three business transactions. On a sheet of paper, list the letters

a,

b, c with columns for assets, liabilities, and stockholders’ equity. For each column, indicate whether the transactions increased (+), decreased (—) or had no effect (NE) on assets, liabilities, and stockholders’ equity:

(a) Purchased supplies on account.

(b) Received cash for providing a service.

(c) Expenses paid in cash.