In a trial balance prepared on March 31, the total of the credit column is: * On March 31, the ledger of V Service consists of the following: Cleaning equipment Accounts payable V, Capital Office equipment 1,780 1,570 3,500 1,200 2,100 Accounts receivable Cash 690 Salaries payable Cleaning supplies 980 280 Your answer The collection of an account receivable will: O Increase total assets O Increase total revenues O Decrease total assets Have no effect on total assets
In a trial balance prepared on March 31, the total of the credit column is: * On March 31, the ledger of V Service consists of the following: Cleaning equipment Accounts payable V, Capital Office equipment 1,780 1,570 3,500 1,200 2,100 Accounts receivable Cash 690 Salaries payable Cleaning supplies 980 280 Your answer The collection of an account receivable will: O Increase total assets O Increase total revenues O Decrease total assets Have no effect on total assets
Chapter7: Accounting Information Systems
Section: Chapter Questions
Problem 5EB: Catherines Cookies has a beginning balance in the Accounts Receivable control total account of...
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