What is the effect of the following business activity on the element indicated? A business with a 30% tax rate makes an accrual: revenues are $118,000 and expenses are $102,000. --- Revenues 1) increase to one and decrease to another 2) no effect 3) decrease 4) increase What is the effect of the following business activity on the element indicated? Provided 2 months of services to a customer who paid $900 in advance for 3 months of services. --- Liabilities 1) increase 2) decrease 3) no effect 4) increase to one and decrease to another What is the effect of the following business activity on the element indicated? A month-end entry is made for a 6%, 1 year, Bank Loan Payable of $25,000, taken out Nov. 1. --- Assets 1) no effect 2) increase to one and decrease to another 3) increase 4) decrease