During a recent week, Pina Legal Services received $29900 cash from clients for services performed with a total value of $76200. The balance is to be received within 30 days. The effect of this transaction in the accounting records would be + $76200 revenue = + $29900 cash + $46300 accounts receivable. O+$46300 net income = + $46300 assets. +$76200 revenue = + $76200
During a recent week, Pina Legal Services received $29900 cash from clients for services performed with a total value of $76200. The balance is to be received within 30 days. The effect of this transaction in the accounting records would be + $76200 revenue = + $29900 cash + $46300 accounts receivable. O+$46300 net income = + $46300 assets. +$76200 revenue = + $76200
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Please don't give image based answer ..thanku
![During a recent week, Pina Legal Services
received $29900 cash from clients for
services performed with a total value of
$76200. The balance is to be received within
30 days. The effect of this transaction in the
accounting records would be
O+$76200 revenue = + $29900 cash
+ $46300 accounts receivable.
+ $46300 net income = + $46300
assets.
O+$76200 revenue = + $76200
accounts receivable.
O+$29900 revenue = + $29900 cash.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd4fb3069-3205-4768-a97a-1b3924eeeda6%2F45dfbe14-031f-4ac0-91bf-7ae1f75af759%2Ftk3rvu_processed.jpeg&w=3840&q=75)
Transcribed Image Text:During a recent week, Pina Legal Services
received $29900 cash from clients for
services performed with a total value of
$76200. The balance is to be received within
30 days. The effect of this transaction in the
accounting records would be
O+$76200 revenue = + $29900 cash
+ $46300 accounts receivable.
+ $46300 net income = + $46300
assets.
O+$76200 revenue = + $76200
accounts receivable.
O+$29900 revenue = + $29900 cash.
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