Atkins Company Collected $1,750 as Payment for the Amount Owed

question 109

Multiple Choice

Atkins Company collected $1,750 as payment for the amount owed by a customer from services provided the prior month on credit.How does this transaction affect the accounting equation for Atkins?

• A)Assets would decrease $1,750 and liabilities would decrease $1,750.
• B)One asset would increase $1,750 and a different asset would decrease $1,750,causing no net change in the accounting equation.
• C)Assets would increase $1,750 and equity would increase $1,750.
• D)Assets would increase $1,750 and liabilities would increase $1,750.
• E)Liabilities would decrease $1,750 and equity would increase $1,750.

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Definitions:

Total Logistics Cost

The complete sum of all expenses associated with the planning, implementing, and controlling of the movement and storage of goods from point of origin to point of consumption.

Decision Areas

Specific domains or aspects within an organization or project that require decision-making.

Flow of Goods

The movement of products from the place of production to the end consumer, including all the stages in between, such as warehousing and transportation.

Customer Service Factors

Elements that influence the quality of support and service provided to customers, including responsiveness, empathy, reliability, and communication.