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previously POSTED answers on this site was graded as INCORRECT ... 0/1 points achieved Stannous Company earns $2,000 of revenue on account in Year 1.
previously POSTED answers on this site was graded as INCORRECT... 0/1 points achieved
Stannous Company earns $2,000 of revenue on account in Year 1. Cash collections of receivables amount to $1,800 in Year 1 with the remainder being collected in Year 2. Which of the following shows how these events will affect the company's ledger accounts at the time revenue is recognized in Year 1? Assets = Liabilities+Stockholders' Equity Accounts Accounts. Common Retained Cash + Receivable Payable Stock Earnings 1,800 1,800 Assets Liabilities + Stockholders' Equity Accounts Accounts. Common Retained Cash + Receivable Payable Stock Earnings 2,000 2,000 Assets = Liabilities + Stockholders' Equity Accounts Accounts. Common Retained Cash+ Receivable Payable Stock Earnings 1,800 1,800 Assets = Liabilities +Stockholders' Equity Accounts Accounts, Common Retained Cash + + Receivable Payable Stock Earnings 2,000 2,000Step by Step Solution
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