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Your Company accepted credit card receivables in exchange for $50,000 of services provided to customers. The credit card company charges a 5% service charge. This
Your Company accepted credit card receivables in exchange for $50,000 of services provided to customers. The credit card company charges a 5% service charge. This transaction would decrease expenses by $2,500. increase cash by $47,500. increase liabilities by $2,500. decrease liabilities by $2,500. increase Accounts Receivable by $47,500
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