Receiving cash from a customer for settlement of an Accounts Receivable will
A)decrease Owner's Equity.
B)increase net income.
C)increase total assets.
D)not affect total assets.

Question

Quizplus · Accepted Answer

Receiving cash from a customer for settlement of an Accounts Receivable shifts the composition of assets (from Accounts Receivable to Cash) but does not change the total amount of assets.

Receiving Cash from a Customer for Settlement of an Accounts