Question 3 Falske Computer Timeshare Company entered into the following transactions during May 2022. Describe the effect of each transaction on assets, liabilities, and owners equity. 1. Purchased computers for $20,000 from Digital Equipment on account. select an effect 2. Paid $4,000 cash for May rent on storage space. select an effect 3. Received $17,000 cash from customers for contracts billed in April. select an effect 4. Performed computer services for Viking