Question 3 (50 points) For each transaction below, indicate the effect on the Accounting Equation by selecting the appropriate response. Billed customers for services rendered. Counted supplies at the end of the month and determined how much was used. 1. Increase in an asset, decrease in another asset. Made cash sales for services rendered. Increase in an asset, increase in a liability. A customer on account paid their bill. (We previously billed them for services rendered.) 3. Increase in an asset, increase in stockholders' equity. Paid dividends. 4. Decrease in an asset, decrease in a liability. Paid utilities expense. Decrease in an asset, decrease in stockholders' equity. Purchased supplies. None of the above. Paid a creditor for an amount due. Issued capital stock for cash. Paid rent for the month