AP Presented below are eight business transactions. Indicate whether the transactions increased $(+),$ decreased $(-),$ or had no effect $($NE$)$ on each element of the accounting equation.

$$Purchased $$250$ of supplies on account.

$$Performed $$500$ of services on account.

$$Paid $$300$ of operating expenses.

$$Paid $$250$ cash on account for the supplies purchased in item $($a$)$ above.

$$Invested $$1,000$ cash in the business.

$$Owner withdrew $$400$ cash.

$$Hired an employee to start working the following month.

$$Received $$500$ from a customer who had been billed previously in item $($b$)$ above.

$$Purchased $$450$ of equipment in exchange for a note payable.

Use the following format, in which the first one has been done for you as an example:

Owner's Equity

Transaction

a

Assets

$+$$$250$

Liabilities

$+$$$250$

Capital

NE

Drawings

Revenues

NE

NE

Expenses

NE