During March, Perpetual Envy Incorporated provides $29,000 in consulting services for a customer. The customer paid...

Transcribed Image Text:

During March, Perpetual Envy Incorporated provides $29,000 in consulting services for a customer. The customer paid $14,500, the other $14,500 was on account. Which of the following statements about these transactions is correct? Multiple Choice Accounts Receivable increases by $14,500, Liebilses decrease by $14.500, and Stockholders' Equity increases by $29,000 Cash increases by $14,500, Accounts Receivable increases by $14,500, and Consulting Revenue increases by $29,000 Revenues increase by $14,500, Sabilities decrease by $14,500, and stockholders' equity is unchanged Cash increases by $14,500, Consulting Revenue increases by $14,500, and Accounts Receivable increases by $29,000 During March, Perpetual Envy Incorporated provides $29,000 in consulting services for a customer. The customer paid $14,500, the other $14,500 was on account. Which of the following statements about these transactions is correct? Multiple Choice Accounts Receivable increases by $14,500, Liebilses decrease by $14.500, and Stockholders' Equity increases by $29,000 Cash increases by $14,500, Accounts Receivable increases by $14,500, and Consulting Revenue increases by $29,000 Revenues increase by $14,500, Sabilities decrease by $14,500, and stockholders' equity is unchanged Cash increases by $14,500, Consulting Revenue increases by $14,500, and Accounts Receivable increases by $29,000