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Show whether the transaction below for Jack Mills Corporation overstated (O), understated (U), or correctly stated (C) total assets, total liabilities, stockholders' equity, and net
Show whether the transaction below for Jack Mills Corporation overstated (O), understated (U), or correctly stated (C) total assets, total liabilities, stockholders' equity, and net income in 2018. You must write "O", " U ", or " C " in each blank for credit. Jack Mills Corporation received $10,000 from a customer for services to be provided in 2019. Upon receiving this money, Jack Mills debited cash and credited revenue. Jack Mills made no further entries relating to this transaction. Assets Liabilities Equity Net Income
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