Fitch Supply Services Received $1,000 Cash from a Customer;the Amount

question 8

Multiple Choice

Fitch Supply Services received $1,000 cash from a customer;the amount was owed to the business from the previous month.What is the effect of this transaction on the accounting equation?

• A)Accounts Receivable increases and Service Revenue increases
• B)Cash increases and Accounts Receivable decreases
• C)Cash increases and Service Revenue increases
• D)Cash increases and Accounts Payable decreases

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