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kramer
1 year ago
9

Hargrave professional group performs legal services on account. what is the effect of this transaction on the balance sheet equa

tion for hargrave?
Business
1 answer:
r-ruslan [8.4K]1 year ago
8 0

Hargrave professional group performs legal services on account. The effect of this transaction on the balance sheet equation for Hargrave is Increase in assets.

<h3>What is Asset?</h3>

An asset is considered a resource of the business which has an economic value in the future of the business and helps business activities to take place smoothly.

Hargrave professional group performs legal services on account which reflects the Buying and sales of goods and services on credit. So this refers to the incoming cash in the business which indicates the effect of this transaction on the balance sheet equation for Hargrave is an Increase in assets.

Learn more about Asset, here:

brainly.com/question/14404094

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