Princess Printing Company had the following transactions with a customer during January: (1)…

Princess Printing Company had the following transactions with a customer during January: (1)…

Princess Printing Company had the following transactions with a customer during January: (1) Performed services, such as printing flyers, and billed the customer; (2) Collected cash on account from the customer; and (3) Sent a statement at the end of the month, showing the balance owing, to the customer. Analyze each of these transactions and determine if they should be recorded or not. Explain why or why not for each transaction.

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