The Dark Chocolate Shoppe collected cash for amounts owed to the company. As a result, it will ________.
A) increase revenue and increase cash
B) increase revenue and decrease accounts receivable
C) increase accounts receivable and decrease revenue
D) increase cash and decrease accounts receivable

Question

Quizplus · Accepted Answer

When cash is collected for amounts owed, cash increases and accounts receivable decreases, as the receivable is settled.

The Dark Chocolate Shoppe Collected Cash for Amounts Owed to the Company