Question: Use the following format, in which the first one has been done for you as an example: (If a transaction couses a decrease in Assets,

 Use the following format, in which the first one has been

done for you as an example: (If a transaction couses a decrease

in Assets, Liabilities or Owner's Equity, place a negative sign (or parentheses)

Use the following format, in which the first one has been done for you as an example: (If a transaction couses a decrease in Assets, Liabilities or Owner's Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Presented below are nine business transactions. Indicate the effect of each transaction on each element of the accounting equation. (a) Purchased $290 of supplies on account. (b) Performed $522 of services on account. (c) Paid $257 of operating expenses. (d) Paid $290 cash on account for the supplies purchased in item (a) above. (e) Invested $1,115 cash in the business. (f) Owner withdrew $420 cash. (g) Hired an employee to start working the following month. (h) Received $522 from a customer who had been billed previously in item (b) above. (i) Purchased $457 of equipment in exchange for a note payable. (a) $290 $290 $0 (b) (c) (d) (e) (f) (g) (h) (i)

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