The following entry was recorded in the books of Brighty Company.Oct. 31 Accounts Receivable-Digitec
12,000
Sales
12,000
Invoice No. 7112.
What is the impact of this entry on the accounting equation?
A) an increase in Assets and an increase in Equity
B) an increase in Assets and an increase in Liabilities
C) a decrease in Assets and a decrease in Liabilities
D) a decrease in Assets and a decrease in Equity
Correct Answer:
Verified
Q229: During the current year, merchandise is sold
Q239: Find the missing amounts from the income
Q243: Stergell Company had sales of $1,500,000 and
Q243: Prepare a balance sheet for Fernandez Company
Q246: Colma Company purchased merchandise on account from
Q248: The following selected accounts and their current
Q248: The following entry was recorded in the
Q249: The following expenses were incurred by a
Q259: The following selected accounts and their current
Q269: Which of the lists below shows accounts
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents