Lauri Markkanen runs a business that provides some services but also sells inventory. Lauri's business has begun to receive cash before services are performed or goods are delivered. Explain to Lauri how to account for such situations. Omit any discussion about Cost of Goods Sold.

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The Answer of Lauri Markkanen runs a business that provides some services but also sells inventory. Lauri's business has begun to receive cash before services are performed or goods are delivered. Explain to Lauri how to account for such situations. Omit any discussion about Cost of Goods Sold.

Lauri Markkanen Runs a Business That Provides Some Services but Also