What could happen if a business spent the cash it received in advance for services it promised to perform at a later date?

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What could happen if a business spent the cash it received in advance for services it promised to perform at a later date?

Related Book For answer-question

College Accounting

11th edition

Authors: Tracie Nobles, Cathy Scott, Douglas McQuaig, Patricia Bille

ISBN: 978-1111528126