Collection of a $1,000 Accounts Receivable a. increases an asset $1,000; decreases an asset $1,000. b. increases

Question:

Collection of a $1,000
a. increases an asset $1,000; decreases an asset $1,000.
b. increases an asset $1,000; decreases a liability $1,000.
c. decreases a liability $1,000; increases owner's equity $1,000.
d. decreases an asset $1,000; decreases a liability $1,000.
Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...