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On June 1, Sunland Inc. performed services and billed its client, Metlock Enterprises $3100. On June 9, Metlock paid the account in full. The
On June 1, Sunland Inc. performed services and billed its client, Metlock Enterprises $3100. On June 9, Metlock paid the account in full. The combined effect of these two transactions on Sunland's tabular analysis is: Assets Liabilities + Stockholders' Equity Retained Earnings Accounts Accounts Common Cash Receivable Payable + Stock + Revenue Expenses O Increase Cash $3100 and increase Revenues $3100. Increase Accounts Payable $3100 and increases Expenses $3100. O Increase Cash $3100 and decrease Accounts Receivable $3100. O Increase Accounts Receivable $3100 and increases Revenues $3100.
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