FINANCIAL AND MANAGERIAL ACCOUNTING
FINANCIAL AND MANAGERIAL ACCOUNTING
9th Edition
ISBN: 2818440048890
Author: Wild
Publisher: MCG CUSTOM
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Chapter 11, Problem 4QS

a.

To determine

To prepare: Journal entry.

b.

To determine

To prepare: Journal entry.

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Solve this following requirements on these general accounting question
A company performed $8,635 of services and received $3,000 in cash with the remaining amount to be paid in 60 days with no interest. What would the effect of this transaction on the company s current month-end accounting equation? A. $3,000 increase in Assets; $5,635 decrease in Liabilities; $8,635 increase in Stockholders' Equity. B. $8,635 increase in Assets; No effect on Liabilities; $8,635 increase in Stockholders' Equity. C. $5,635 increase in Assets; No effect on Liabilities; $5,635 increase in Stockholders' Equity. D. $8,635 increase in Assets; $8,635 increase in Liabilities; No effect on Stockholders' Equity.
I need this question answer general Accounting

Chapter 11 Solutions

FINANCIAL AND MANAGERIAL ACCOUNTING

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