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What is the answer to this accounting questions? OFFICE MEMORANDUM Date: 19/02/2021 To: Accountant SUBJECT: 1. Received $520 from the manager of Tranquil Deck for

What is the answer to this accounting questions?

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OFFICE MEMORANDUM Date: 19/02/2021 To: Accountant SUBJECT: 1. Received $520 from the manager of Tranquil Deck for a job which will take 20 working days to complete, starting on 1st March. Signed: Michael Brown Assuming that instead of getting paid for the consulting job on February 19, MBB issues an invoice on February 19 and payment is due upon completion of the job, 1. Total liabilities for February will decrease 2. Total revenue for February will not change 3. Total assets for February will not change Only statement 2 is INCORRECT. Only statement 1 is INCORRECT. Only statement 3 is CORRECT. Only statement 2 is CORRECT

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