Use the Following Information for Questions Below

question 13

Multiple Choice

Use the following information for questions below
During a recent week, McMunn Legal Services received $25,000 cash from clients for services performed with a total value of $75,000. The balance is to be received within 30 days.
-The effect of this transaction in the accounting records would be

• A)+ $75,000 revenue = + $25,000 cash + $50,000 accounts receivable.
• B)+ $50,000 net income = + $50,000 assets.
• C)+ $25,000 revenue = + $25,000 cash.
• D)+ $75,000 revenue = + $75,000 accounts receivable.

---

Definitions:

Weight Loss Strategy

A planned approach or set of practices designed to reduce an individual's body weight.

Participant Weight Loss

The amount of weight a participant in a study loses, often measured to assess the effectiveness of a diet or exercise program.

Confidence Interval

A confidence interval is a range of values, derived from sample statistics, that is likely to contain the value of an unknown population parameter, with a specified level of confidence.

Unemployment Rate

The segment of the labor force that is not employed but is actively on the lookout for a job.