Lab Assignment Question 2 of 6 < > Selected transactions for Poway Landscaping Company are listed below. Describe the effect of each transaction on assets, liabilities, and owner's equity. For example, the first answer is: Increase in assets and increase in owner's equity. 1. Made cash investment to start business. 2. Paid monthly rent. 3. Purchased equipment on account. 4. Billed customers for services performed. Search a 2.78/5 = 1 Increase in assets and increase in owner's equity Increase in liabilities and decrease in owner's equity Increase in assets and increase in liabilities Increase in assets and increase in owner's equity mhp D < 0 D 7:5 5/29