The transaction,"provided services for cash," affects which two accounts?
A)Revenue and Expense
B)Cash and Revenue
C)Cash and Expense
D)Cash and Dividends

Question

Quizplus · Accepted Answer

The transaction provided services for cash involves receiving cash, which increases the cash account, and providing a service, which generates revenue. Therefore, the transaction affects the Cash and Revenue accounts.

The Transaction,"provided Services for Cash," Affects Which Two Accounts