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Transaction 4: Earning of Service Revenue Smart Touch Learning earns service revenue by providing training services for the clients. The business earns $5,500 of revenue
- Transaction 4: Earning of Service Revenue
Smart Touch Learning earns service revenue by providing training services for the clients. The business earns $5,500 of revenue and collects this amount in cash. The effect on the accounting equation in an increase in Cash and an increase in Sheena Bright, Capital, as follows.
ASSETS |
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| LIABILITIES |
| OWNERS EQUITY |
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Cash | + | Office Supplies | + | Land |
| Accounts Payable | + | Sheena Bright, Capital |
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Bal |
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| ? |
| ? |
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10,000 |
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| ? |
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? |
| ? |
| ? | = | ? |
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