Westwood Supply Services received $1,000 cash from a customer; the amount was owed to the business from the previous month.Which of the following accounts will decrease as a result of this transaction?

Question

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Since the amount was owed from the previous month, it means that it was recorded in the business's accounts receivable. Receiving the cash from the customer means that the accounts receivable will decrease, as the debt has been paid.

Westwood Supply Services Received $1,000 Cash from a Customer; the Amount