On November 4, Vivo Company performed services on account for R$295,000.On November 26, the company collected the balance due.The November 26 transaction will increase

Question

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The transaction on November 4 increased Accounts Receivable and Revenue by R$295,000 as services were performed and billed on account. The transaction on November 26 involves collecting the balance due, which means cash is received from the customer and Accounts Receivable decreases by R$295,000. Therefore, the correct choice is C, which states that cash will increase and Accounts Receivable will decrease by R$295,000.

On November 4, Vivo Company Performed Services on Account for R$295,000.On