A Business Collects Cash from a Customer in Payment of Accounts

question 65

Multiple Choice

A business collects cash from a customer in payment of accounts receivable.Which account is credited?

• A)Supplies
• B)Cash
• C)Accounts receivable
• D)Service revenue

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Definitions:

Organization Issuing

Refers to entities (like corporations, governments, or NGOs) that release or distribute something, often securities or official documents.

Future Revenues

Expected income from sales or services to be received in the future.

Stream Of Income

A consistent or predictable flow of revenue, which can come from investments, real estate, or other sources over a period of time.