1 1.5 View Policies Current Attempt in Progress A list of effects on the accounting equation follows. For each effect, select an example of a transaction that would cause it. 1. Increases an asset and increases a liability. Collect an accounts receivable. 2. Increases an asset and increases owner's equity. Record salaries due to employees. 3. Decreases an asset and decreases a liability. Payment of accounts payable. 4. Decreases owner's equity and decreases an asset. Withdrawal of cash by the owner or payment of an expense. 5. Increases a liability and decreases owner's equity. Record salaries due to employees. 6. Increases one asset and decreases another asset. Investment made by owner. eTextbook and Media Save for Later Attempts: 0 of 3 used Submit