A Business Renders Services to a Customer for $26,000 on Account.Which

question 92

Multiple Choice

A business renders services to a customer for $26,000 on account.Which of the following accounts is debited?

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

---

Definitions:

Great Recession

A severe global economic downturn that occurred from late 2007 through mid-2009, marked by widespread financial instability and significant job losses.

Housing Prices

The cost associated with purchasing residential properties, which can fluctuate based on market conditions, location, and property characteristics.

Lehman Brothers

A global financial services firm whose bankruptcy in 2008 was a major catalyst for the global financial crisis, highlighting issues within the U.S. banking and investment sector.

AIG Bailout

A series of financial support measures provided by the U.S. government in 2008 to prevent the collapse of the insurance giant AIG, deemed "too big to fail" during the financial crisis.