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During March, Perpetual Envy Inc. provides $34,000 in consulting services for a customer. The customer paid $17,000; the other $17,000 was on account. Which of
During March, Perpetual Envy Inc. provides $34,000 in consulting services for a customer. The customer paid $17,000; the other $17,000 was on account. Which of the following statements about these transactions is correct? Multiple Choice o Accounts Receivable increases by $17,000, Liabilities decrease by $17,000, and Stockholders' Equity increases by $34,000. O Cash increases by $17,000, Consulting Revenue increases by $17,000, and Accounts Receivable increases by $34,000. O Revenues increase by $17,000, liabilities decrease by $17,000, and stockholders' equity is unchanged. Cash increases by $17,000, Accounts Receivable increases by $17,000, and Consulting Revenue increases by $34,000
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