Performed services worth $10,000 $6,000 cash is received from customers, and the balance is billed to customers on account. The effects of the previous transactions on the accounting equation? Increase cash 6000, and increase account receivables 4000 and increase Services revenues 10000 Increase cash 6000, and increase account payable 4000 and increase Services revenues 10000 Increase cash 6000, and increase account receivables 4000 and decrease Services revenues 10000 Increase cash 6000, and increase account receivables 4000 and increase Services revenues 6000 M Wp On November 1, 2014, Bread Basket signed a 90,000, 6-month note pavable. The note requires Bread Basket to pay interest at an annual rate of 7%. The appropriate adjusting entry on December 31, 2014, would be (Accounting period yearly) debit to the interest expense for $1050; credit to the interest payable for $1050 debit to the interest payable for $3150 credit to the interest expense for 53150 x debit to the interest expense for 53150; credit to the interest payable for 53150 X debit to the interest payable 51050; credit to the interest expense 51050 In preparing closing entries x each revenue account will be credited. X each expense account will be credited. the retained earnings account will be debited if there is a net income for the period. the dividends account will be debited. Die The income statement for the month of June 2014 of Taylor Enterprises contains the following information: total Revenues 8,000, total expenses 4100, and net Income 3900. After the revenue and expense accounts have been closed, the balance in Income Summary will be EO. a debit balance of 3,900. x x x x a credit balance of 3,900. a credit balance of 8,000