Cash collected on Accounts Recievable would produce what effect on the income st

Question

Cash collected on Accounts Recievable would produce what effect on the income statement?
A. Net income would increase B. Revenues would increase C. Net Income would increase D. Revenues would decrease Cash collected on Accounts Recievable would produce what effect on the income statement?
A. Net income would increase B. Revenues would increase C. Net Income would increase D. Revenues would decrease
A. Net income would increase B. Revenues would increase C. Net Income would increase D. Revenues would decrease

Explanation / Answer

Dear student....Thank you for using chegg..

Entry for Cash collected on Accounts Recievable is

Cash DR

To Accounts receivable

Both cash and accounts receivable are current assets...Thus current assets (Balance sheet) would decrease and increase by the same amount....But it will not affect income statement.... Thus all the options given are incorrect

Related Questions

Navigate

• Browse (All)
• Browse C
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.