Answer or complete the following. KC 1. (a) A place to record changes caused by transactions is an (b) The left side of a T-account is the side. (c) The right side of a T-account is the side (d) A group of accounts is a (e) A proof of the mathematical equality of the debits and credits in the ledger is a side. side (1) An asset increases on the side and decreases on the (8) Liabilities increase on the side and decrease on the (h) Owner's equity increases on the side, (Accounts increase on the side on which they appear on the K.A 2. For each of the following transactions, correctly enter the debit and credit in the T-accounts provided Cash Accounts Receivable (a) Received 5100 cash from a customer. Cash Supplies (b) Bought supplies for S50 cash (1) Accounts increase on the side on which they appear on the K.A 2. For each of the following transactions, correctly enter the debit and credit in the T-accounts provided Cash Accounts Receivable (a) Received $100 cash from a customer Cash Supplies (b) Bought supplies for $50 cash. Equipment Accounts Payable (c) Bought a fax machine for $400, on account Cash Equipment (d) Sold an old computer and received $50 cash. ** Copyright 2002 Pearson Education Canada Inc., Toronto, Ontario 1 Cash T. Murphy, Capital (e) The owner invested an additional $4000 in the business Cash Accounts Payable ( Paid $300 to a creditor KC 3. Explain and give an example of double-entry accounting. K.A.T 4. Enter either the word Increase or Decrease on each of the ruled lines that follow Assets Liabilities Owner's Equity Credit Debit Credit Debit Credit Debit