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apter 2 Quiz Pool aining: 0:40:34 Save Submit Test for Grading nstructor ns D Problem 02-088 Question 14 of 16 Letty's Laundry and Dry Cleaning incorporated and started business on January 1, 2016. Indicate the effect of each transaction on the accounting equation by selecting at the right of each number the appropriate lett from the following list: a. Increase in an asset, decrease in another asset. b. Increase in an asset, increase in a liability. c. Increase in an asset, increase in stockholders' equity. d. Decrease in an asset, decrease in a liability. e. Decrease in an asset, decrease in stockholders' equity 1. s Laundry and Dry cleaning began business by depositing s30,000 in a checking account in the name of c Letty's Laundry and Dry cleaning, Inc. for which capital stock is issued. 2. Borrowed $6,000 from City Bank. 3. Purchased equipment from washers wholesale, $16,20o. 4. Purchased supplies costing $3,000 from suds n stuff for cash. 5. Paid one month's rent for business space in Pine Plaza, s1,ooo. 6. Services provided to customers during January totaled $13,400. All services were paid for in cash. 7. Paid employees for January, $2,240. 8. Received and paid the utility bill, s500. Selec 9. Received and paid the telephone bil $250 10. Paid dividends to the stockholders, $2,140. Q100ie correct opartially covrect visited Noc vet Jaadged oIncorreer Needs Instruootor Grading Inrended for Grading Question 14 of 16 D Problem 02-088 Save Submit Test for Grading Email instructor