Chapter Three: Journal Transactions ?L Worksheet This exeroise will continue the understanding of the accounting equation and endry aocounting that began in the prior chapter I worksheet, but add a step. So here students must in this chapter we will revisit the prior 2The Insurance Company parchased a new computer system for a $10.000 parcall off land r. Identily what accound's) ane affected by the transaction 2Identity if the affected accounts are increased or decreased by the transaction Determine f increasing (decreasingl the account ia represented by a debit or credit The Insuranoe Company purchased a new computer system for $10,000 in cash Computer System -AaseL_ -ndease decrease decrease D 3 The Insurance Company paid their new employees 35,351 cash increase decrease Ce Increase decrease Wages Expense Cash Account 1. The Insurance Company purchased a new oomputer system for $10,000 on Effect on AcsousRebai Cred Computer System etincreastdecreasea Accounts Payable CFincreasedecrease 59 02014 C2014 evennt