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 LIABILITIES OWNERS EQUITY

Cash	+	Office Supplies	+	Land		Accounts Payable	+	Sheena Bright, Capital
Bal		?		?		?		?
10,000								?
?		?		?	=	?		?
?