Effect of transactions on accounting equation Describe how the following business transactions affect the three elements of the accounting equation: a. Invested cash in business.  b. Paid for...

Effect of transactions on accounting equation

Describe how the following business transactions affect the three elements of the accounting equation: a. Invested cash in business.

 b. Paid for utilities used in the business.

c. Purchased supplies for cash.

d. Purchased supplies on account.

 e. Received cash for services performed.