Brief Exercise $5-22($Algo$)$ Determine financial statement effects of credit sale with sales discount $($LO$51,52)$

On February $3,$ a company provides services on account for $$28,500,$ terms $3/10,$ n$/30.$ On February $9,$ the company receives payment from the customer for those services on February $3.$

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Required:

$1.$ Determine the financial statement effects when the company provides services on account on February $3.$

$2.$ Determine the financial statement effects when the company collects cash from the customer on February $9.$