the company rendered services on account, what is the entry? O debit cash, credit service revenue debit accounts receivable, credit service revenue O debit service revenue, credit cash debit service revenue, credit account receivable O O

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Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is