Collection of accounts receivable means that cash is collected from the customers. So cash is collected. So cash increases and accounts receivable decreases by $ 2,800.
Here both cash and accounts receivable are assets. So increases an asset $ 2,800 and decreases an asset $ 2,800.
Hence, option C is the correct answer.
SUMMARY:
Option C is the correct answer.
Collection of a $2800 Accounts Receivable increases an asset $2800; decreases a liability $2800. decreases a...
Collection of a $620 Accounts Receivable O increases an asset $620; decreases an asset $620. O decreases an asset $620; decreases a liability $620. O increases an asset $620; decreases a liability $620. O decreases a liability $620; increases stockholders' equity $620.
Collection of $440 accounts receivable olection of a $440 Accounts Receivable Increaseh an asset $440; decreases an asset $440. O decreases an asset $440; decreases a liability $440. increases an asset $440; decreases a liability $440 decreases a liability $440; increases stockholders' equity $440 lick if you would like to Show Work for this question: Open Show Work Question Attempts: 0 of 1 used SAVE 200.201,Jetomerksons.Inc. Au Rights erved. A Division of letnyǐleyASensJnc. F8 F9 F10 7 0
Question 18 View Policies Current Attempt in Progress Collection of a $470 Accounts Receivable increases an asset $470; decreases an asset $470. decreases a liability $470; increases stockholders' equity $470. increases an asset $470; decreases a liability $470. decreases an asset $470; decreases a liability $470.
Cash outflows result from increases in asset accounts and decreases in liability and equity accounts. True False
an account is a record of increases and decreases in a specific asset liability equity revenue or expense item true or false
a transaction that decreases a liability and increases an asset must also affect one or more other accounts true or false
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