The collection of an accounts receivable increases total assets.
Correct Answer:
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Q1: The performance of services for cash increases
Q2: The effect of an investment by the
Q4: Owner's drawings are an expense of the
Q9: The purchase of supplies on credit increases
Q10: Expenses are the costs incurred in the
Q11: The withdrawal of cash from the business
Q32: The purchase of office equipment on credit
Q36: External transactions involve economic events between the
Q38: Accountants record both internal and external transactions.
Q39: Internal transactions do not affect the basic
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