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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 3% 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 3% service charge. This transaction would decrease expenses by $1,500. increase cash by $50,000. increase Retained Earnings by $48,500. decrease liabilities by $1,500. increase Accounts Receivable by $50,000
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