What is the effect on the accounting equation of the following transaction in October 2019:...
70.2K
Verified Solution
Link Copied!
Question
Accounting
What is the effect on the accounting equation of the following transaction in October 2019: Received $1,200 from a customer for services provided in September 2019 "?
a.
Increase assets and increase owners equity
b.
Increase assets and decrease liabilities
c.
Increase one asset account and decrease another asset account
d.
Decrease assets and increase owners equity
e.
Decrease assets and decrease liabilities
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
