Collection of a $1500 Accounts Receivable
A) increases an asset $1500; decreases an asset $1500.
B) increases an asset $1500; decreases a liability $1500.
C) decreases a liability $1500; increases owner's equity $1500.
D) decreases an asset $1500; decreases a liability $1500.
Correct Answer:
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Q112: If total liabilities increased by $6000 then
A)
Q113: Owner's equity is increased by
A) drawings.
B) revenues.
C)
Q114: If an owner makes a withdrawal of
Q115: Owner's equity is decreased by all of
Q116: If total liabilities decreased by $30000 and
Q118: A net loss will result during a
Q119: If total liabilities decreased by $40000 and
Q120: If an individual asset is increased then
A)
Q121: Which of the following events is not
Q122: Owner's capital at the end of the
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