Use the following information about Desiey Accountants and Auditors to answer the next 2 questions.

On October 3, Desiey Accountants and Auditors provide service and bill its client far $15,000 of consulting services: On October 12, Desiey Accountants and Auditors receive a full payment of $15,000 from the customer

Question 5 (2 points)

The journal entry to record the October 12 transaction will have the following effect on Dooley Accountants and Auditors' financial statements:

Total Assets would not change.

Total Assets would increase by $15,000.

Total Assets would decrease by $15,000.

Total Revenues would increase by $15,000.

Question 4 (2 points)

The journal entry to record the October 3 transaction will have the following effect on Dooley Accountants and Auditors financial statements:

Total assets would decrease by $15,000

Total liabilities would increase by $15,000

Total stockholders equity would decrease by $15,000

Total revenues would increase by $15,000