On October 3, Ken Steele, a carpenter, received a cash payment for services previously billed...
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Accounting
On October 3, Ken Steele, a carpenter, received a cash payment for services previously billed to a client. Ken paid his telephone bill, and he also bought equipment on credit. For the three transactions, at least one of the entries will include a
debit to Accounts Receivable.
credit to Accounts Payable.
debit to Notes Payable.
credit to Owners Capital.
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