While preparing its bank reconciliation, Maynard Company determined that its bank had collected a $650 account receivable for the company and deducted a $25 collection fee. Which of the following shows the effect of this transaction on the financial statements? 
Definitions:
Chi-Square Test
A statistical method designed to test the significance of the connection between two categorically distinct variables.
Contingency Table
A data table that shows the frequency distribution of the variables in a matrix format, useful for statistical analysis like chi-square tests.
Qualitative Variables
Variables that categorize or describe attributes or properties without a natural numerical scale or order.
Contingency Tables
A type of table in a matrix format that displays the frequency distribution of the variables, useful in statistics to analyze the relationship between two or more categorical variables.
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