MCQs > Finance & Management > Accounts Receivable > ABC Services provides accounting services to a client and collects $1,000 in cash. How and in which of the accounts will the increase in cash be recorded by ABC Services as a result of providing this service?

Accounts Receivable MCQs

ABC Services provides accounting services to a client and collects $1,000 in cash. How and in which of the accounts will the increase in cash be recorded by ABC Services as a result of providing this service?

Answer

Correct Answer: A credit to Service Revenue

Explanation:

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Accounts Receivable Skill Assessment

Overall Skill Level-Poor

Your Skill Level: Poor

Retake Quizzes to improve it