Question: Lone Peak Company performs services for a client on account. One month later, the company receives cash from the customer as payment. When the customer

Lone Peak Company performs services for a client on account. One month later, the company receives cash from the customer as payment. When the customer makes the payment:

Group of answer choices

a revenue account is increased.

there is no change in total assets.

a liability account is decreased.

an expense account is decreased.

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