Indicate the impact of each of the transactions below on the fundamental accounting equation (Assets = Liabilities + Owner’s Equity) by placing an “I” to indicate an increase and a “D” to indicate a decrease. The first transaction is entered as an example.

TRANSACTIONS
1. Paid $4,200 for utilities.
2. Performed services for $21,000 on account.
3. Received $13,000 from charge account customers.
4. Paid salaries of $9,000 to employees.
5. Paid $16,000 to a creditor on account.
6. Owner invested $180,000 in the business.
7. Purchased $53,400 of supplies on account.
8. Purchased equipment for $42,000 cash.
9. Paid $12,000 for rent (in advance).
10. Performed services for $15,600 cash.

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Transaction 1 Assets D = Liabilities + Owner's Equity D