Atkins Company Collected $1,750 as Payment for the Amount Owed

question 212

Multiple Choice

Atkins Company collected $1,750 as payment for the amount owed by a customer from services provided the prior month on credit.How does this transaction affect the accounting equation for Atkins?

• A)Assets would decrease $1,750 and liabilities would decrease $1,750.
• B)One asset would increase $1,750 and a different asset would decrease $1,750,causing no effect.
• C)Assets would increase $1,750 and equity would increase $1,750.
• D)Assets would increase $1,750 and liabilities would increase $1,750.
• E)Liabilities would decrease $1,750 and equity would increase $1,750.

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Definitions:

Sexual Harassment

Unwelcome sexual advances, requests for sexual favors, and other verbal or physical harassment of a sexual nature.

Abuse of Power

The misuse of authority by someone in a position of power, often to gain personally or to advantage someone close to the abuser.

Revictimization

The phenomenon where an individual who has experienced victimization once suffers additional episodes, further exacerbating their vulnerability.

Depression

A mental health disorder marked by persistent feelings of sadness, loss of interest, and a lack of energy.