For each of the following transactions, indicate the effect on the basic accounting equation (Assets = Liabilities + Shareholders’ Equity):

a. Purchase of equipment for cash

b. Receipt of a loan from a bank

c. Purchase of inventory on account

d. Sale of services to a customer for cash

e. Payment of account payable

f. Recorded wages owed to employees

g. Payment of interest on loan

h. Repayment of loan principal

i. Payment of wages owed to employees that were recorded in transaction (f)

j. Purchase of inventory on credit

k. Payment of utility expenses

l. Recorded depreciation on the equipment