Jack's Snow Removal Company received a cash advance of exist6,000 on December 1, 2016 to provide services during the months of December, January, and February. The 2016 year- end adjustment to recognize the partial expiration of the contract will increase assets by exist2,000 decrease in liability by exist2,000 increase liabilities by exist2,000 increase assets by exist2,000 and increase equity by exist2,000 Using the same facts as question 4, Revenue will: Increase, B Decrease. C, Stay the same. D, increase by the same amount that liabilities will increase. Which of the following is increased with a debit? Insurance expense Service revenue