T Normal 1 No Spac... Heading 1 Heading 2 Select Paragraph Styles Editing The Alex Company, a consulting firm, recorded the following selected business transactions during May, 2016. Indicate whether each transaction (and only that transaction listed) would increase, decrease, or have no effect on the total assets of the company. Answer should be one of the following: Increase, Decrease or No Effect 21. Issued (sold) common stock in exchange for cash contributed by owners. 22. Purchased office supplies for cash 23. Purchased office supplies on credit. 24. Paid cash on accounts payable to a supplier. 25. Collected cash on accounts receivable 26. Borrowed money from the bank on a promissory note payable 27. Loaned money to an employee in exchange for a note receivable 28. Purchased a building by using cash and signing a mortgage loan payable for the balance OF Predictions on w 90F S O