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Question - A collection on account from a customer for $800 was recorded as a debit to Cash $800 and a credit to Service Revenue $800.
Prepare the correcting entries
What account should I debit and which account should I credit?
Accounting Basics, Accounting
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Question - On December 31, year 1, Day Co. leased a new machine from Parr with the following pertinent information: Lease term 8 years Annual rental payable at beginning of each year $60,000 Useful life of machine 10 yea ...
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