1. Provided some services for a credit customer; payment is due August 10. 2. Paid the utilities bill for June that was received and recorded as expense in June. 3. Signed an application to borrow money from a bank in August at an interest rate of 8%. 4. Purchased and used advertising time on radio in July. The invoice will be paid in August. 5. Purchased a new machine by making a 10% down payment and signing a note payable for the balance. 6. Declared and immediately paid a cash dividend to the stockholders. Indicate the effects that each of these transactions will have upon the following six total amounts in the company's financial statements for the month of July. Select I for increase, D for decrease, and NE for no effect in the column headings below to show the effects of the above transactions. The answer to transaction 1 is provided as an example. Transaction 1. 2. 3. 4. 5. 6. || Income Statement Balance Sheet Revenue Expenses Net Income Assets Liabilities + Owners' Equity NE NE |