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On april 5, Stella company provided services and billed its client $110,000. On april 12, Stella Company received $110,000 cash for services provided earlier april.
On april 5, Stella company provided services and billed its client $110,000. On april 12, Stella Company received $110,000 cash for services provided earlier april.
The journal entry to record the April 12 transaction will have the following effect on Stella Company's financial statement?
A) total liabilities will increase by $110,000
B) total revenues will increase by $110,000
C) total stockholders' equity will decrease by $110,000
D) total assets will decrease by $110,000
E) none of the above
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