1. Performing a service for $500 cash and $700 on account would include a:a. deb

1. Performing a service for $500 cash and $700 on account would include a:a. debit to cash for $1200b. debit to service revenue for $1200c. credit to service revenue for $500d. debit to accounts receivable for $7002. The normal balance of cash is a _____ because it is a(n) _____ account.a. debit expenseb. credit assetc. debit assetd. credit revenue3. The normal balance of accounts payable is a _____ because it is a(n) _____ account.a. credit liabilityb. credit revenuec. credit owners equityd. credit asset 4. An owner investment of a building valued at $200000 with a $55000 outstanding mortgage into an entity would:a. increase owners equity $145000b. increase total assets $55000c. decrease liabilities $145000d. increase owners equity $200000