Happy Harry Requires His Customers to Pay for Their Orders

question 25

Multiple Choice

Happy Harry requires his customers to pay for their orders six weeks before shipping the goods. How should the cash receipts be recorded by Harry?

• A) Debit bank, credit an asset account
• B) Debit bank, credit an expense account
• C) Debit bank, credit an liability account
• D) Debit bank, credit an income account

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