There Are Ten Transactions Listed Below

Essay

There are ten transactions listed below:
1. Receive cash from customers on account.
2. Initial cash contribution by an owner.
3. Pay cash to reduce an accounts payable.
4. Purchase supplies for cash.
5. Pay cash to reduce a notes payable.
6. Purchase supplies on account.
7. Customers pay cash for services rendered.
8. Purchase equipment with a note payable.
9. Pay utilities with cash.
10. Owner withdraws money from the business for personal use.
Instructions
Match the transactions that have the identical effect on the accounting equation. You should end up with 5 matches. The first one has been completed for you with an explanation.
Example: 1. and 4. are a match because both of them include one increase in assets and one decrease in assets, so there is no effect on the accounting equation.