Question 1 Transaction Analysis and Debit and Credit For each of the following transactions, indicate whether the accounts affected are an asset, a liability, an equity, an income or an expense. Also indicate whether the accounts are being increased or decreased and whether the increase or decrease is a debit or credit. Ignore GST. 1. Owner gave their personal computer to the business. 2. Employed a secretary. 3. Purchased supplies on credit. 4. Paid a creditor using an electronic transfer. 5. Invoiced a customer for services performed. 6. Paid some cash and took out a loan to purchase office furniture. 7. Received cash from a customer that owed the business money. 8. Paid for an advertisement aired on television. Account Title Type of Account Increases Normal balance 1 1 2 3 4 5 LO