Answer Happy

On June 1, Bonita Inc. performed services and billed its client, Wildhorse Enterprises $1600. On June 9, Wildhorse paid the account in full. The combined effect of these two transactions on Wildhorse's tabular analysis is: Assets Liabilities + Stockholders' Equity Retained Earnings Accounts Common Payable + Stock + Revenue. Expenses Accounts Cash + Receivable O Increase Accounts Payable $1600 and increases Expenses $1600. O Decrease Cash $1600 and decrease Accounts Payable $1600. O Increase Accounts Receivable $1600 and increases Revenues $1600. O Decrease Cash $1600 and increase Expenses $1600.