Don's Computer Servicing, Inc., a service company that provides installation services for computer programs, had a service revenue transaction in the amount of $300,000 on May 31,2018,

with one customer. This customer chose to put the balance owed on its credit account with Don's, and it will pay off the balance in the following month. What is the effect of the revenue transaction on the accounting equation? What is the journal entry for this transaction? Omit explanation.

What is the effect of the revenue transaction on the accounting equation? (If a box is not used in the table leave the box empty; do not enter a zero. Abbreviations used: Acc. OCI = Accumulated Other Comprehensive Income; Beg. R/E = Beginning Retained Earnings; Contr. Cap. = Contributed Capital.)

Assets

=

Liabilities

+

Stockholders' Equity

Ending Retained Earnings

Accounts

=

Liabilities

+

Contr.

+

Acc.

+

Beg. R/E

+

Service

-

Expenses

-

Dividends

Receivable

Cap.

OCI

Revenue

and Losses

Declared

=

+

+

+

+

-

-