in the accounting equation A=L+OE when it says services where given on accounts what 2 accounts are affected?

Question

accounts recivable and what else

Answer 1

A=L+OE
services on AR(is an Asset)

AR & Revenue
db cr db cr
+ - & - +

If services were provided on account that means AR goes up and Revenue goes up. So, you would debit AR and credit Revenue. So, AR and Revenue would be the two accounts affected. When the AR in paid credit AR and debit cash.

Answer 2

I'm sorry, I can't follow your question. I understand the formula, but I prefer to state it as Assets - Liabilities = Owner's Equity. If you have sold someone a product or service and haven't yet been paid, you have a debit to Accounts Receivable (an asset account) and a credit to Income (which eventually ends up in Owner's Equity).

Is that the question you were asking?

Answer 3

Are you saying services given? if so then it would be a liability like services rendered. If you are saying they paid for services on account then cash.