2x S1-9 (book/static) Question Help Tiny Town Kennel earns service revenue by caring for the pets of customers. Tiny Town Kennel is organized as a corporation. During the past month, Tiny Town Kennel has the following transactions: (Click the icon to view the Tiny Town Kennel transactions.) Indicate the effects of the business transactions on the accounting equation for Tiny Town Kennel. Transaction (a) is answered as a guide. a. Received $520 cash for service revenue earned. a. Increase asset (Cash) ; Increase equity Service Revenue) b. Paid $325 cash for salaries expense. b. Decrease asset (Cash) Decrease equity (Salaries Expense) c. Received a $1,000 contribution in exchange for common stock. c. Increase asset (Cash) Increase equity (Common Stock) d. Earned $640 for service revenue, but the customer has not paid Tiny Town Kennel yet. (Service Revenue) d. Increase asset (Accounts Receivable) Increase equity Question Viewer e. Received utility bill of $85, which will be paid next month. e. Decrease equity (Utility Expense) ; Increase liability (Accounts Payable) f. Cash dividends of $100 were paid to stockholders. f. Decrease asset (Cash) Decrease equity (Dividends)