Record whether the following situation would result in an increase or decrease in assets and/or liabilities:

Please use one of the following answer choices Goes up, Goes down, Stay the same

An organization purchases supplies with cash:

Cash Assets

Inventory assets

Liabilities

An organization purchases supplies on account

Cash assets

Inventory Assets

Liabilities

An organization takes out a loan:

Cash Assets

Inventory Assets

Liabilities

An organization repays loan principle:

Cash Assets

Inventory Assets

Liabilities

An organization makes a payment on an amount it owes:

Cash Assets

Inventory Assets

Liabilities

An organization prepays for insurance:

Cash Assets

Inventory Assets

Liabilities

An organization pays employee wages:

Cash Assets

Inventory Assets

Liabilities

An organization signs a contract to pay for a new building in installments over the next 10 years:

Cash Assets

Inventory Assets

Liabilities