What is the effect of the following business activity on the element indicated? Sold product to a customer on account for $1,850. The cost of the inventory was $985. --- Expenses Select one: a. no effect b. increase to one and decrease to another C. decrease d. increase What is the effect of the following business activity on the element indicated? Sold product to a customer for $900 cash. The cost of the inventory was $500. --- Revenues Select one: a. increase b. no effect c. increase to one and decrease to another d. decrease