Business, 16.11.2020 18:20 amandanunnery33

Cushion Sports accepted a credit card account receivable in exchange for $5,000 of services provided to a customer. The credit card company charges a 5% service charge. Recording the transaction in the company's accounting records will have what effect on the accounting equation? a. Increase assets and equity by $4,750.
b. Increase equity by $5,000.
c. Increase assets by $5,000.
d. Decrease assets and equity by $250.

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Cushion Sports accepted a credit card account receivable in exchange for $5,000 of services provided...

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