Question: please kindly select between increase,decrease or no effect for the different accounts. thanks Transactions for Ing. Ltd. for the month of June, its first month

Transactions for Ing. Ltd. for the month of June, its first month of operations, are presented below: June 1 4 7 18 25 27 28 29 Issued common shares to shareholders in exchange for $2,500 cash. Purchased supplies on account for $250. Billed J. Kronsnoble $300 for welding work done. Received partial payment of $200 from J. Kronsnoble for work billed on June 7. Hired a new employee to start work on July 3, Received cash of $200 from Liu Controls Ltd. as a deposit for welding work to be done in July. Paid for supplies purchased on June 4. Paid $100 for monthly income tax instalment. Prepare a debit-credit analysis. Account Debited Effect Account Credited Effect June 1 Increase V No Effect 4 No Effect No Effect 7 Increase V No Effect V 18 Decrease Decrease V 25 Increase
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