View Policies Current Attempt in Progress Presented below are eight business transactions. Indicate the effect of each transaction on each element of the accounting equation. (a) Purchased $283 of supplies on account. (b) Performed $457 of services on account. (c) Paid $325 of operating expenses. (d) Paid $283 cash on account for the supplies purchased in item (a) above. (e) Invested $999 cash in the business. (f) Owner withdrew $425 cash. (g) Hired an employee to start working the following month. (h) Received $457 from a customer who had been billed previously in item (b) above. 00) Purchased $448 of equipment in exchange for a note payable. Use the below format, in which the first one has been done for you as an example: (If a transaction causes a decrease in Assets, or Owner's Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity ite was reduced. See Illustration 1-13 for example.)