020. Selling a service on account has what effects on the Financial Statements of the business? Oa. Increases revenue on the Income Statement and increases assets on the Balance Sheet Ob. Increases revenue on the Income Statement and increases liabilities on the Balance Sheet Oc. Decreases revenue on the Income Statement and decreases assets on the Balance Sheet Od. Decreases revenue on the Income Statement and decreases liabilities on the Balance Sheet 21 Bauing es