On April 15th, Franecki Ltd received $45,000 in cash from Cronin Corp for services that Franecki Ltd performed on the same day. What is the effect on the expanded
accounting equation?
Increase Cash $45,000; Increase Revenue $45,000
Decrease Cash $45,000, Decrease Revenue $45,000
Increase Cash $45,000, Decrease Revenue $45,000
Decrease Cash $45,000, Increase Revenue $45,000