A company receives $8,000 in cash from customers for services rendered and incurs $3,000 in utility expenses, which are paid in cash. How does this transaction affect the accounting equation in terms of debits and credit? A company receives $8,000 in cash from customers for services rendered and incurs $3,000 in utility expenses, which are paid in cash. How does this transaction affect the accounting equation in terms of debits and credit? Debits: Cash $11,000, Utilities Expense $3,000; Credits: Revenue $8,000, Accounts Payable $3,000. Debits: Cash $8,000, Utilities Expense $3,000; Credits: Revenue $8,000, Cash $3,000. Debits: Cash $8,000, Utilities Expense $3,000; Credits: Revenue $8,000, Accounts Receivable $3,000. Debits: Cash $8,000, Utilities Expense $3,000; Credits: Revenue $8,000, Accounts Payable $3,000