QUESTION 20 Emma's Dance Inc. provides dance lessons. On April 10, Emma Inc. collected 51,000 from customers for lessons to be given in May. What is the impact on the accounting equation for collection on April 10? 1. Decrease liabilities, increase stockholders equity 2. Increase assets, increase stockholders equity 3. Increase assets, decrease assets 4. Increase assets, decrease liabilities 5. Increase liabilities, increase assets