Quail Company's customers made payments totaling $6,400 on their accounts.Which accounts are affected by this transaction?

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The revenue was recognized when the services were performed and the right to collect the $6,400 from its customer was recorded as an increase to an asset called Accounts Receivable.The journal entry to record the receipt of customer payments on account includes a debit to Cash and a credit to Accounts Receivable.This transaction only affects asset accounts.

Quail Company's Customers Made Payments Totaling $6,400 on Their Accounts