The Effect on the Accounting Equation of the Business Banking

question 18

Multiple Choice

The effect on the accounting equation of the business banking $1000 of cash received from a debtor paying his account for an amount owing is:

• A)increase the asset cash;increase profit and loss to record income
• B)increase the asset cash;decrease the liability debtors
• C)increase the asset cash;decrease the asset debtors
• D)decrease the asset cash;decrease the profit and loss

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