Transactions the selected transactions below were completed by cota delivery service during july: indicate the effect of each transaction on the accounting equation by choosing the appropriate letter from the following list: increase in an asset, decrease in another asset. increase in an asset, increase in a liability. increase in an asset, increase in stockholders' equity. decrease in an asset, decrease in a liability. decrease in an asset, decrease in stockholders' equity. 1. received cash in exchange for common stock, $35,000. c 2. purchased supplies for cash, $1,100. 3. paid rent for october, $4,500. b 4. paid advertising expense, $900. 5. received cash for providing delivery services, $33,000. 6. billed customers for delivery services on account, $58,000. 7. paid creditors on account, $2,900. 8. received cash from customers on account, $27,500. 9. determined that the cost of supplies on hand was $300 and $8,600 of supplies had been used during the month. 10. paid cash dividends, $2,500.