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If Skeeter Corporation receives $50,000 today and will perform services next year, according to the revenue recognition principle, the accounting for this transaction will:
If Skeeter Corporation receives $50,000 today and will perform services next year, according to the revenue recognition principle, the accounting for this transaction will: O Increase assets and increase revenue. Increase assets and increase liabilities. Increase expenses and increase revenue. O Increase prepaid assets and increase revenue.
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