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The company completed a job for a customer and sent a bill for $5,900 to be received within 45 days. The company completed advisory
The company completed a job for a customer and sent a bill for $5,900 to be received within 45 days. The company completed advisory work for a customer and immediately received $7,400 cash. The company paid a contractor $2.350 cash for work performed this period. The company paid $1,080 cash for this period's utilities. The company collected $2,950 cash as a partial payment for the amount owed by the customer in transaction a. Enter the impact of each transaction on individual items of the accounting equation. Note: Enter decreases to account balances with a minus sign. Assets Liabilities Equity Transaction Cash Accounts Receivable Accounts Payable Revenues Expenses a. + b. + = Balance 0 + 0 = 0 + 0 - 0 C. Balance d. Balance e. + = 0+ 0 = 0 + 0 0 + = + 0 + 0 = 0 0 + = + Balance 0 + 0 = 0 + 0 0
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