ON ACCOUNTING EQUATION (30 points: 3 points each to put a letter in Show the effect of the following transactions on the basic accounting equation. Besure every blank space( Increase, D Decrease, N No Effect). Liabilities Equity Ex. Receipt of cash for work to be performed in the future. The cash payment to liquidate an outstanding Nability An adjusting entry to record an expense incurred but not yet paid The recognition of revenue earned but for which payment has not been received D The recognition of a probable and estimable contingent iability A loss recognized on the sale of a fixed asset The sale of merchandise with a cost of 100,000 in exchange for $150,000 cash G The payment by a customer of an outstanding account balance within the discount period The receipt of cash in exchange for services performed The recognition of bad debt expense using the Allowance method. JThe purchase of outstanding shares of stock to be held as treasury stock