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During 2020, Blackmon Corp. provided a service to its customer. The customer had paid $5,000 for the service in advance during 2019. How will the
During 2020, Blackmon Corp. provided a service to its customer. The customer had paid $5,000 for the service in advance during 2019. How will the service provision affect Blackmons 2020 financial statements?
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a. increase accounts receivable, decrease inventory
b. increase cash, decrease inventory
c. decrease cash, decrease inventory
d. decrease unearned revenue, increase revenue
e. increase accounts receivable, increase revenue
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