Martin Supply Service received $1 000 cash from a customer which was owed to the business from the previous month. Which of the following accounts decreases?

Name: Martin Supply Service received $1 000 cash from a customer which was owed to the business from the previous month. Which of the following accounts decreases?
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Accounts receivable decreases because the cash received was for an outstanding amount owed by the customer, reducing the amount the customer owes.

Martin Supply Service Received $1 000 Cash from a Customer