Cansing Company Collected $5,000 from a Customer on Account

question 38

Multiple Choice

Cansing Company collected $5,000 from a customer on account.What journal entry will Cansing record?

• A)Debit Cash,credit Accounts Receivable.
• B)Debit Cash,credit Revenue.
• C)Debit Accounts Receivable,credit Revenue.
• D)Debit Accounts Receivable,credit Cash.

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Definitions:

Pay Practices

The methods and policies businesses use to compensate their employees, including wages, salaries, bonuses, and benefits.

Government-Mandated Safety Standards

Regulatory requirements set by the government to ensure products meet specified safety and efficacy benchmarks to protect consumers.

Credit Card Data Theft

The unauthorized access and retrieval of personal credit card information with the intent to commit fraud or theft.

Marketing Plan

A written document composed of an analysis of the current marketing situation, opportunities and threats for the firm, marketing objectives and strategy specified in terms of the four Ps, action programs, and projected or pro forma income (and other financial) statements.