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On May 7, a company provides services on account to an individual for $2,400. The...

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Accounting

On May 7, a company provides services on account to an individual for $2,400. The individual pays for those services on May 13. Required: For the company, record the service on account on May 7 and the collection of cash on May 13. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)

Record the service revenue on account.

Record the cash received on account.

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