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TRANSACTION | ACCOUNT | DEBIT | CREDIT |
---|---|---|---|
Sell products or services | Accounts Receivable | $1,000 | |
Sell products or services | Service Income | $1,000 | |
Receive payment | Checking Account | $1,000 | |
Receive payment | Accounts Receivable | $1,000 | |
Pay for expense | Office Supplies | $500 | |
Pay for expense | Checking Account | $500 |