A business earns $4,000 from various charge account clients. To record this transaction, the business would:
A. Debit Cash; Credit Accounts Receivable
B. Debit Accounts Receivable; Credit Cash
C. Debit Accounts Receivable; Credit Fees Income
D. Debit Accounts Payable; Credit Fees Income
Answer: C
Business
You might also like to view...
FIFO results in the least amount of income before taxes, assuming a period of rising prices
a. True b. False Indicate whether the statement is true or false
Business
The process of disintermediation in the global distribution system has been declining at a steady rate
Indicate whether the statement is true or false
Business
A firm's objective is the criteria by which the success or failure of a strategy is measured
Indicate whether the statement is true or false
Business
Perceptions are ______.
A. static B. always accurate C. unimportant D. subject to change
Business