Boone's Cleaning Service performed cleaning services during December,2010,but had not collected any cash from its customers as of December 31,2010.What impact did performing these services have on the accounting equation?
A) The service increased assets and increased liabilities.
B) The service increased assets and increased stockholders' equity.
C) The service increased assets and decreased stockholders' equity.
D) The service decreased liabilities and decreased stockholders' equity.
Correct Answer:
Verified
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