Question: Lazy Creek Kennel earns service revenue by caring for the pets of customers. Lazy Creek's main expense is the salary paid to an employee. Write
Lazy Creek Kennel earns service revenue by caring for the pets of customers. Lazy Creek's main expense is the salary paid to an employee. Write the accounting equation for
(a) The receipt of $500 cash for service revenue earned,
(b) The payment of $1,500 for salary expense.
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