Hamilton Lawn Service Earned $1,000 for Services Rendered

question 131

Multiple Choice

Hamilton Lawn Service earned $1,000 for services rendered.The customer promised to pay at a later time.Which of the following accounts increased?

• A) Accounts payable
• B) Supplies
• C) Cash
• D) Accounts receivable

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Definitions:

Available Savings

The amount of money that remains after all spending, taxes, and financial obligations have been accounted for.

Savings Dollars

Funds that are saved and set aside for future use instead of being spent.

Flow

In the context of finance, it often refers to the movement of funds in and out of a business, project, or investment, including cash flow.

Continual Shortage

A persistent situation wherein the demand for a product or resource outweighs its supply, often resulting in sustained higher prices or unmet demand.