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24 February, 14:08

Leak Geeks, a plumbing supply company, sold $25,000 of plumbing supplies to one of their larger customers. The supplies had an inventory value of $12,000. How will the revenue and cash inflow from this transaction impact the accounting equation of Leak Geeks?

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  1. 24 February, 14:31
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    How will the revenue and cash inflow from this transaction impact the accounting equation of Leak Geeks?

    Explanation:

    1.+25000 Cash + 25000 equity

    2.-12000 Inventory - 12000 equity
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