Chapter 2 Homework Submit your answers in CANVAS before it is due Use the following to answer questions 1-5 Determine if the normal balance is a Debit (D) or a Credit (C). Input only the first letter of the answer (D or C). Account Normal Balance Dor C Supplies Services provided Common stock Land Salaries payable Use the following to answer questions 6 - 8 Analyze each transaction. Under each category in the accounting equation, indicate whether the transaction: A. increases, B. decreases, or C. has no effect. The item (a) is provided as an example. (a) Provided services to a customer on account. (Revenue increases causing Stockholders' Equity to increase, Assets increase, and no effect on Liabilities). 6. Issue common stock in exchange for cash. 7. Purchased equipment by signing a note payable. 8. Incurred salaries expense for the month, will pay next week. Liability Stockholders' Equity Asset (a) 6