The receipt of cash in the accounting equation of landen consulting by Equity + Liabilities = Assets.
The books of Landen Consulting states that, the cash payment will be recorded as follows:
Debit Cash Account $400
Credit Account Receivables $400
(If the payment was made in the same month, then the above would have been the revenue)
Since both accounts that were affected are assets account, the Effect of the Transaction on the accounting equation is as follows,
Equity + Liabilities = Assets
Equity + Liabilities = Assets + Cash ($400) - Account Receivables ($400)
= Equity + Liabilities = Assets.
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