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In the current accounting period, InstaChat Company provided $250,000 of services to customers on account (i.e., cash will be received from customers in the next

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In the current accounting period, InstaChat Company provided $250,000 of services to customers on account (i.e., cash will be received from customers in the next accounting period). Due to this, there is a(n) increase in liabilities and increase in revenues increase in liabilities and increase in expenses increase in assets and increase in liabilities increase in assets and increase in revenues decrease in assets and increase in revenues

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