USE THE FOLLOWING INFORMATION TO ANSWER THE QUESTION: A business specializing in selling phones sold phones on account in March. The phones were for OMR 200 and the business gave the customer credit terms that state the amount is to be paid back to the business next month. What will be the account debited for OMR 200 in March? O Service Revenue Accounts Recewable Account Payable 0 Cash A business specializing in making dothes sold clothes on account in April. The clothes were for OMR 2.000 and the business gave the customer credit terms that state the amount is to be paid back to the business in May. in May when the business receives the OMR 2.000 from the customer, which account will be debited ? Select one Service Revenues Account Payable o Cash Accounts Receivable A double entry accounting system means that every business transaction will affect two or more accounts. Select one: True False Normally when revenues are involved in a business transaction, a revenue account will be credited Select one: True False Credits generally: Select one: decrease assets and liabilities. increase assets and liabilities. increase assets and decrease liabilities decrease assets and increase liabilities. Which account types normally have a credit balance? O a. Revenues O b. Liabilities O c. Expenses Od. Both a and b. Which of the following business transactions would have no impact on business accounts? Select one: O Dividends to shareholders Purchase of building for personal use Purchase of a building to expand the business storage Investment of cash by shareholders