I’m studying accounting equation now and I’m answering an exercise, identifying the effects of the following transactions on the assets, liabilities and capital.
1. Billed a customer for service rendered
asset (+) = Liabilities (No Effect) + Capital (+)
2. Received payment from the customer in #1
asset (+/-) = Liabilities (No Effect) + Capital (No Effect)
I’m wondering why in #2 asset become +/-?