9, Keceived cash from customers when service was performed. Instructions List the numbers of the above transactions answer is: (1) Increase in assets and increase in owner's equity Analyze the effecet of transactions on assets, liabilities, and ouner's equity. (LO 4) and deseribe the effet of each transaction on assets, liabilities, and owner's equity. For example, the first El-7 Falske Computer Timeshare Company entered into the following transctions during May 2017. 1. Purchased computers for $20,000 from Digital Equipment on account. 2. Paid $4,00o cash for May rent on storage space. 3. Received $17,000 cash from customers for contracts billed in April 4. Performed computr services for Viking Construction Company for $4,000 cash. 5. Paid Tri-State Power Co. $11,ooo cash for energy usage in May 6. Falske invested an additional $29,00o in the business 7. Paid Digital Equipment for the computers purchased in (1) above. 8. Incurred advertising expense for May of $1,200 on account. Instructions Indicate with the appropriate letter whether each of the transactions above results in (a) An increase in assets and a decrease in assets (b) An increase in assets and an increase in owner's equity (c) An increase in assets and an increase in liabilities. (d) A decrease in assets and a decrease in owner's equity (e) A decrease in assets and a decrease in liabilities () An increase in liabilities and a decrase in owner's equity (g) An increase in owner's equity and a decrease in liabilities