It’s for the MGMT 200 introduction of financial accounting.
When a company provided the service to a customer on account. The Assets (Accounts receivable) increases(Debit) and The SH’ Equity (Revenue) Increases(Credit). So the equation is balanced. Is that right?
But when the company receive the cash of this service from the customer in a week. The financial changes both occur in Assets? I know cash increases (Debit), but what is another assets that decreased?
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