Analyze the transactions described below and indicate their effect on the basic accounting equation. Use a plus sign (+) to indicate an increase and a minus sign () to indicate a decrease. 1. Received cash for services performed. assets________ =liabilities ________ +owner's equity________ 2. Purchased office equipment on credit. assets________ =liabilities________ +owner's equity________ 3. Paid employees' salaries. assets________ =liabilities________ +owner's equity ________ 4. Received cash from customer in payment on account. assets________ =liabilities ________ +owner's equity ________ 5. Paid telephone bill for the month. Assets ________ =liabilities ________ +owner's equity ________ 6. Paid for office equipment purchased in transaction 2. assets ________ =liabilities ________ +owner's equity ________ 7. Purchased office supplies on credit. assets ________ =liabilities ________ +owner's equity ________ 8. Proprietor withdrew cash for personal expenses. assets ________ =liabilities ________ +owner's equity ________ 9. Obtained a loan from the bank. assets________ =liabilities ________ +owner's equity ________ 10. Billed customers for services performed. assets ________ =liabilities ________ +owner's equity ________