Question

ecthtml for Decisions - Wild, Shaw, Chiappetta, 70, Accounting in Business Russell's Consulting Services Company provided $1,000 of services to the local college and Immediately collected $700, but the college wants to pay the rest next month. Record this transaction in the accounting equation for Russell's Consulting Service by: Click the answer you think is right. decreasing Cash; and increasing both Accounts Receivable and Common Stock increasing both Cash and Accounts Receivable; and decreasing Revenues Increasing Cash and Accounts Payable; and increasing Revenues Increasing both Cash and Accounts Receivable; and increasing Revenues Do you know the answer? I know it Think so Unsure No Idea

Answer 1

The answer is

Increasing Cash and Accounts receivables and increasing revenues

Revenues will increase by $1000

Cash will increase by $700

And Accounts receivables will increase by $300