7. On April 30, 2021, Pinto Products received from a Customer Inc a cash payment of $300,000, representing a deposit on production and delivery of a $1,000,000 machine, which will cost Pinto $600,000 to manufacture and deliver to Customer, to be delivered by Pinto to Customer on or before August 31, 2021. Payment for the machine is due in full on delivery. This transaction would most likely result in which of the following as of 4/30/2021? a. No effect on Pinto's liabilities or assets b. A decrease in Pinto's total assets of $300,000. C. An increase in Pinto's total liabilities of $1,300,000. d. An increase in Pinto's sales of $1,000,000. 8. Assuming the same facts in Question 7, This transaction would most likely result in which of the following as of 8/31/2021? a. An increase in Customer's assets of $1,000,000 b. No effect on Customer's assets or liabilities c. A decrease in Customer's liabilities of $700,000 d. An increase in Customer's assets of $700,00