Question 1 (1 point) Saved What is the effect of the following business activity on the element indicated? Provided services to a customer who paid $1,2000 in advance last month. --- Assets 1) increase to one and decrease to another 2) decrease 3) no effect O 4) increase Question 2 (1 point) What is the effect of the following business activity on the element indicated? You receive $900 from a customer for services to be performed next month. --- Revenue 1) increase O2) increase to one and decrease to another 3) no effect 4) decrease Question 3 (1 point) What is the effect of the following business activity on the element indicated? A business receives $600 cash from a customer for services to be performed over the next 2 months. --- Equity 1) decrease O2) no effect 3) increase to one and decrease to another 4) increase Question 4 (1 point) What is the effect of the following business activity on the element indicated? Received $1,200 from a customer for services to be performed evenly over the next 3 months. --- Liabilities 1) decrease O2) increase 3) no effect 4) increase to one and decrease to another Question 5 (1 point) What is the effect of the following business activity on the element indicated? Received inventory worth $2,450 from your supplier, purchased with terms 2/15, n/40.--- Expenses 1) increase O2) no effect 3) decrease 04) increase to one and decrease to another Question 6 (1 point) What is the effect of the following business activity on the element indicated? Received inventory worth $6,200 from your supplier, purchased with terms 1/5, n/15. --- Liabilities 1) no effect O2) increase O3) decrease 4) increase to one and decrease to another