QUESTION 2 Analyze the following transactions for Muse, Incorporated. Note the direction of change for each account category, marking each as I for increase, D for decrease, and N for no change. 1. Muse provides a service to a customer, receiving cash when the service is complete. Assets: Liabilities: Owners' equity: 2. Muse purchases inventory, agreeing to pay the invoice in the future. Assets: , Owners' equity: 3. Muse pays April rent for a warehouse, with a total cost of $1,500. Muse pays cash on April 10. Assets: Liabilities: , Owners' equity: 4. Muse sells inventory, receiving cash from the customer. Revenue exceeds Cost of goods sold. Assets: Liabilities: , Owners' equity: 5. Muse purchases equipment, signing a note payable for the purchase. Assets: , Owners' equity: Liabilities: Liabilities: 6. Muse purchases an insurance policy on March 28. The insurance policy cost $600 cash and covers April 1 through September 30. Assets: , Liabilities: , Owners' equity: 7. On January 17, Muse receives $4,000 to provide services to a customer. The services will be provided in February and March. Assets: , Liabilities: , Owners' equity: