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On December 27, Milligan Cleaning provided services to a customer. As of December 31, Milligan...

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Accounting

On December 27, Milligan Cleaning provided services to a customer. As of December 31, Milligan has not yet collected cash or billed the customer, but expects to receive cash in January. What are the effects of the necessary adjustment on December 31 for cash to be received in the future?

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