Question
QS 1-10 Identifying effects of transactions using accounting equation-Revenues and Expenses LO P1 The following transactions were completed by the company. The company completed consulting
QS 1-10 Identifying effects of transactions using accounting equation-Revenues and Expenses LO P1 The following transactions were completed by the company. The company completed consulting work for a client and immediately collected $6,000 cash earned. The company completed commission work for a client and sent a bill for $4,500 to be received within 30 days. The company paid an assistant $1,650 cash as wages for the period. The company collected $2,250 cash as a partial payment for the amount owed by the client in transaction b. The company paid $800 cash for this period's cleaning services. Required: Enter the impact of each transaction on individual items of the accounting equation. (Enter decreases to account balances with a minus sign.)
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