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Bob's Computer Servicing, Inc., a service company that provides installation services for computer programs, had...

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Accounting

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Bob's Computer Servicing, Inc., a service company that provides installation services for computer programs, had a service revenue transaction in the amount of $400,000 on May 31, 2022, with one customer. This customer chose to put the balance owed on its credit account with Bob's, and it will pay off the balance in the following month. What is the effert of the revenue transaction on the acrountinc ecuuation? What is the inurnal entrv for this transac.tion? Omit exnlanation What is the effect of the revenue transaction on the accounting equation? (If an input field is not used in the table leave the input field empty; do not enter a zero. Abbreviations used: Acc. OCl = Accumulated Other Comprehensive Income; Beg. R/E = Beginning Retained Earnings; Contr. Cap. = Contributed Capital.)

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