A Business Received $3,000 from a Customer in Payment of an Amount

question 74

Multiple Choice

A business received $3,000 from a customer in payment of an amount owed.The effect of the transaction on the accounting equation was to:

• A)increase one asset,decrease another asset.
• B)increase an asset,increase a liability.
• C)decrease an asset,decrease a liability.
• D)increase an asset,increase owner's equity.

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