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Question - In May, Susi, the owner of AccSol Ltd had her office painted. On June 8, Susi receives an invoice over $3,600 for the painting service. Susi has 30 days to pay for the painting services and by 30 June has not yet paid for it.
Apart from an increase in accounts payable, what else should be recognised in the books of AccSol Ltd on 8 June? Use the definition and recognition criteria of the Conceptual Framework to justify your solution.
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