PL Transactions The selected transactions below were completed by Cote Delivery Service during July: Indicate the effect of each transaction on the accounting equation by choosing the appropriate letter from the following list 3. Increase in an asset, decrease in another asset. b. Increase in an asset, increase in a liability c. Increase in an asset, Increase in stockholders equity. d. Decrease in an asset, decrease in a liability Decrease in an asset, decrease in stoc cholders' equity. 1. Received cash in exchange for common stock, $35,000 2. Purchased supplies for cash, 51,100. 3. Pald rent for July, 54,500 4. Paid advertising expense, $900. 5. Received cash for providing delivery services, 533,000. 6. Billed customers for delivery services on account, 558,000, 7 Daires sont 2900 Check My Work M 3. Paldrant for July, 54,500 4. Pald advertising expense, 1900, 5. Received cash for providing delivery services, $33,000 6. Billed customers for delivery services on account, $58,000 7. Paid creditors on account, $2,900. 3. Received cash from customers on account, $27,500. 9. Determined that the cost of supplies on hand was $300 and $8,600 of supplies had been used during the month 10. Paid cash dividends, $2,500 Check My Work