Customers Paid $8,000 on Their Accounts

question 111

Multiple Choice

Customers paid $8,000 on their accounts.Which accounts are affected by this transaction?

• A)Revenue and Retained Earnings increase $8,000.
• B)Cash and Revenue increase $8,000.Liabilities and Expense increase $8,000.
• C)Cash increases $8,000 and Accounts Receivable decreases $8,000.Revenue and Retained Earnings are unchanged.
• D)Revenue and Retained Earnings decrease $8,000.

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Definitions:

Contextual

Pertaining to or depending on the context of a situation, event, or concept, affecting its understanding and interpretation.

Intelligence

The ability to acquire, understand, and apply knowledge and skills, and to adapt to new situations.

Visual-recognition Memory

The ability to remember and recognize previously encountered objects, symbols, or individuals by sight.

Infant Development

The physical, cognitive, emotional, and social growth that occurs in babies from birth through their first year of life.