The Alex Company, a consulting firm, recorded the following selected business transactions during May, 2014. Indicate whether each transaction would increase, decrease, or have no effect on the total assets of the company.
1. Issued capital stock in exchange for cash contributed by owners.
2. Purchased office supplies for cash.
3. Purchased office supplies on credit.
4. Paid cash on accounts payable to a supplier.
5. Collected cash on accounts receivable.
6. Borrowed money from the bank on a promissory note payable.
7. Loaned money to an employee in exchange for a note.
8. Purchased a building by using cash and signing a mortgage loan payable for the balance.