What is the effect of the following business activity on the element indicated? Paid for $2,450 of inventory you purchased 2/15, n/40 on Apr. 18. It is May 8. --- Assets 1) increase to one and decrease to another 2) decrease 3) increase 4) no effect Question 6 (1 point) What is the effect of the following business activity on the element indicated? An employee is paid for 40 hours of work, $12 per hour. --- Assets 1) decrease 2) no effect 3) increase 4) increase to one and decrease to another