Transactions The selected transactions below were completed by Silverado Delivery Service during February: Indicate the effect...

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Accounting

Transactions The selected transactions below were completed bySilverado Delivery Service during February: Indicate the effect ofeach transaction on the accounting equation by choosing theappropriate letter from the following list: Increase in an asset,decrease in another asset. Increase in an asset, increase in aliability. Increase in an asset, increase in owner's equity.Decrease in an asset, decrease in a liability. Decrease in anasset, decrease in owner's equity. 1. Received cash from owner asadditional investment, $25,000. 2. Purchased supplies for cash,$750. 3. Paid rent for February, $3,000. 4. Paid advertisingexpense, $1,500. 5. Received cash for providing delivery services,$16,800. 6. Billed customers for delivery services on account,$32,500. 7. Paid creditors on account, $1,400. 8. Received cashfrom customers on account, $23,770. 9. Determined that the cost ofsupplies on hand was $275 and $475 of supplies had been used duringthe month. 10. Paid cash to owner for personal use, $5,000.

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1 Increase in assets increase in owners equity Explanation here cash is assets and investment is equity 2 Increase in assets decrease in another assets Explanation supplies is increasing cash is decreasing 3 See Answer

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