Financial statement effects

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Reference no: EM133971504

Question

On May 7, Juanita Construction provides services on account to Michael Wolfe for $2,400. Michael pays for those services on May 13.

For Juanita Construction, what are the financial statement effects when the service is rendered on May 7? For Juanita Construction, what are the financial statement effects when the cash is collected on May 13?

Reference no: EM133971504

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