Question: LMN Enterprises performs accounting services for a client for $ 3 , 0 0 0 cash. What is the effect on the accounting equation? Increase

LMN Enterprises performs accounting services for a client for $3,000 cash. What is the effect on the accounting equation?
Increase assets and increase retained earnings
Increase liabilities and decrease retained earnings
Decrease assets and increase liabilities
Increase one asset and decrease another asset
LMN Enterprises performs accounting services for a client for $3,000 cash.

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