Question

Vic mart collects $700 of its accounts receivable. the expanded accounting equation impact is a/an

A) a counts receivable decrease and capital increase of $700
B) cash and capital increase if $700
C) cash and revenue increase of $700
D) cash increase and accounts receivable decrease of $700

Answer 1

D) cash increase and accounts receivable decrease of $700

Explanation:

Answer 2

D) cash increase and accounts receivable decrease of $700

Explanation:

Vic mart collects $700 of its accounts receivable.

Account Receivable means goods were earlier sold on credit and amount was due. At the time of sales cash was not received.

Now, Vic Mart collects $700. As a result his cash balance increased by $700 and account receivable decreased by $ 700.

Hope it helps..

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