Refinishers Inc

question 173

Multiple Choice

Refinishers Inc.receives cash of $2,000 from services performed during its first week of business.How would Refinishers record this transaction?

• A)Cash increases by $2,000 and Refinishing Revenue increases by $2,000.
• B)Cash decreases by $2,000 and Refinishing Revenue decreases by $2,000.
• C)Cash increases by $2,000 and Common Stock increases by $2,000.
• D)Cash decreases by $2,000 and Accounts Receivable decreases by $2,000.
• E)Cash increases by $2,000 and Accounts Receivable decreases by $2,000.

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