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The grid below is a list of possible effects on the Income Statement and the Balance Sheet. The code is: + increase; decrease; NE
The grid below is a list of possible effects on the Income Statement and the Balance Sheet. The code is: + increase; decrease; NE no effect. Revenue Expense Net Income Assets Liabilities Equity 3. NE NE NE NE + b. + NE + + NE + C. NE NE NE NE d. + NE + NE + e. NE NE NE + + NE Match the effect that the transaction below would have on Happy Maids Cleaning Corporation's Income Statement and Balance Sheet. Choose (a), (b). (c), (d), or (e) from the grid above. For example, if the transaction were "Paid amounts due on accounts payable," the correct answer would be (c) because there is no effect on revenue, expense, and net income; a decrease in assets and liabilities; and no effect on equity. Transaction: Performed services for customers who had paid in advance. a. Ob. Od Oe
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