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In May, Company X records the transaction.

 by a debit to Accounts Receivable for $5, and a credit to Service Revenues for $5,. What is the effect of this entry upon the accounting equation for Company 

Budgeting Financial Accounting CMA
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Question added by abdelaziz allam , محاسب اول , شركة كامبردج مصر للاستثمار التعليمي ش.م.م
Date Posted: 2016/02/09
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Muhammad Rizwan
by Muhammad Rizwan , ACCA Intern , M.A Chaudhari & Co. (Chartered Accountants)

Asset (Trade Receivables) Increase and Equity(Service Revenue) increase.

no effect on liabilities.

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