How Would the Accounting Equation of Lenore Turner's Consulting Business

question 36

Multiple Choice

How would the accounting equation of Lenore Turner's consulting business be affected by the billing of a client for $2,000 for consulting work completed?

• A) Accounts receivable, $2,000 increase, liabilities, $2,000 decrease.
• B) Accounts receivable, $2,000 increase, liabilities, $2,000 increase.
• C) Accounts receivable, $2,000 increase, cash, $2,000 increase.
• D) Accounts receivable, $2,000 increase, equity, $2,000 increase.
• E) Accounts receivable, $2,000 increase, cash, $2,000 decrease.

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