Errusia Presented below are eight business transactions. Indicate the effect of each transaction on each element of the accounting equation. (a) Purchased $241 of supplies on account. (b) Performed $542 of services on account. (c) Paid $328 of operating expenses. (d) Paid $241 cash on account for the supplies purchased in item (a) above. (e) Invested $986 cash in the business, (f) Owner withdrew $443 cash. (g) Hired an employee to start working the following month. (h) Received $542 from a customer who had been billed previously in item (b) above. () Purchased $462 of equipment in exchange for a note payable. Use the below format, in which the first one has been done for you as an example: (If a transaction causes a decrease in Assets, Liabilities or Owner's Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See Illustration 1-13 for example.) Question 6 of 24 was reduced. See Illustration 1-13 for example.) - 15 E Owner's Equity Transaction Assets Liabilities Capital Drawings (a) Reven $241 $241 $0 $0 (b) (c) (d) (e) (1) (8) (h) 00