Glebe Company accepted a credit card account receivable in exchange for $1,100 of services provided to a customer. The credit card company charges a 5% fee for handling the transaction. What effect will the collection of cash from the credit card company have on the elements of the financial statements?
A. Increase assets by $1,045
B. Increase assets by $1,100
C. Decrease assets and stockholders' equity by $55
D. None of these answer choices are correct
Answer: D
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What will be an ideal response?
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Indicate whether the statement is true or false
Austin has trouble remembering peoples’ names, even after just meeting them. He should try ______.
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