ACCT 101A 5/6/2020 PR A&R Problem 1-3 1 Provided services on credit - amount is $14,000 Increase revenue Leads to increase in equity Increase accounts receivable INCOME STATEMENT BALANCE SHEET Revenues Expenses Assets Liabilities Equity 14.000 14.000 14,000 The increased revenue leads to an increase in equity The increased asset is accounts receivable as the sale was on credit 1 Provided services on credit - amount is $14,000 Increase revenue Leads to increase in equity Increase accounts receivable INCOME STATEMENT Revenues Expenses BALANCE SHEET Liabilities Equity Assets 14,000 14,000 14,000 The increased revenue leads to an increase in equity The increased asset is accounts receivable as the sale was on credit 1 Provided services on credit - amount is $14,000 Increase revenue Leads to increase in equity Increase accounts receivable INCOME STATEMENT Revenues Expenses BALANCE SHEET Liabilities Equity Assets 14,000 14,000 14,000 The increased revenue leads to an increase in equity The increased asset is accounts receivable as the sale was on credit