Brief Exercise 8-1 ?? ransactions ollow. For each ransaction lndicate the ransaction increases, decreases, or has no e ect on a accounts receivable, b notes receivable, c total assets d ota liabilities, and e owner s equity. Use the following format, in which the first transaction is given as an example. Total Liabilities Accounts Receivable Increase Owner's Fquity Increase Notes Receivable Total Assets Transaction: Performed services on account for a customer. No effect No effect 1. 2. 3. 4. 5. Increase A customer paid cash for services to be provided next month Performed services for a customer in exchange for a note. Collected cash from the customer in transaction 1. above Extended a customer's account for three months by accepting a note in exchange for it Performed services for a customer who had paid No effect 6. in advance. LINK TO TEXT