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If a company records cash received for services to be provided in the future with a debit to Cash and a credit to Service Revenue,
If a company records cash received for services to be provided in the future with a debit to Cash and a credit to Service Revenue, how will this error affect total assets for the current period?
Group of answer choices
Total assets will be too low.
Total assets will be too high.
Total assets will be correct.
Not possible to determine.
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Auditing And Assurance Services Plus Pearson MyLab Accounting With Pearson EText
Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley, Chris E. Hogan
17th Global Edition
1292312106, 978-1292312101
