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

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

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