On May 1,a company provided legal services for a new client.The lawyer asked for $1,000 and the client paid with a check on May 1 before leaving the office.In transaction analysis,how does this transaction affect the accounting equation?
A)Add $1,000 to Cash and add $1,000 to Service Revenue account.
B)Add $1,000 to Cash account and add $1,000 to Retained Earnings account.
C)Add $1,000 to Cash account and subtract $1,000 from Accounts Receivable account.
D)Add $1,000 to Cash account and subtract $1,000 from Accounts Payable account.

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The Answer of On May 1,a company provided legal services for a new client.The lawyer asked for $1,000 and the client paid with a check on May 1 before leaving the office.In transaction analysis,how does this transaction affect the accounting equation?
A)Add $1,000 to Cash and add $1,000 to Service Revenue account.
B)Add $1,000 to Cash account and add $1,000 to Retained Earnings account.
C)Add $1,000 to Cash account and subtract $1,000 from Accounts Receivable account.
D)Add $1,000 to Cash account and subtract $1,000 from Accounts Payable account.

On May 1,a Company Provided Legal Services for a New