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Record the following transaction in the accounting equation: A company provides a $10,000 service to a customer and receives cash. Use the format below
Record the following transaction in the accounting equation: A company provides a $10,000 service to a customer and receives cash. Use the format below and enter the amount in the appropriate columns. Cash A/R Supplies Equipment = A/P N/P + C/S R/E For reference: A/R = accounts receivable, A/P = accounts payable, N/P = notes payable, C/S = common stock, R/E = retained earnings For transactions including revenue - record as an increase to retained earnings. For transactions including expenses - record as a decrease to retained earnings.
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