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Concept explainers
On January 24, 20Y8, Niche Consulting collected
$5,700 it had hilled its clients for services rendered on December 31, 20Y7. How would you record the January 24 transaction, using the accrual basis?
A. Increase Cash, $5,700; decrease Fees Earned, $5,700
B. Increase
C. Increase Cash, $5,700; decrease Accounts Receivable, $5,700
D. Increase Cash, $5,700; increase Fees Earned, $5,700
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Chapter 3 Solutions
Survey of Accounting (Accounting I)
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- Survey of Accounting (Accounting I)AccountingISBN:9781305961883Author:Carl WarrenPublisher:Cengage LearningPrinciples of Accounting Volume 1AccountingISBN:9781947172685Author:OpenStaxPublisher:OpenStax CollegeCornerstones of Financial AccountingAccountingISBN:9781337690881Author:Jay Rich, Jeff JonesPublisher:Cengage Learning
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