Question: When a company performs a service (performance obligation is met,) but has not yet received payment: A liability, called accounts payable, increases A liability, called

When a company performs a service (performance obligation is met,) but has not yet received payment:

A liability, called accounts payable, increases

A liability, called accounts payable, decreases

Nothing has happened becausecash wasn't received

An asset, called accounts receivable, increases

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