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QUESTION 8 Assets Liabilities Common Stock Shareholders' Equity Retained Earnings $ $ $ $ In March, Florist Gump, Inc., collected $6,000 of its accounts
QUESTION 8 Assets Liabilities Common Stock Shareholders' Equity Retained Earnings $ $ $ $ In March, Florist Gump, Inc., collected $6,000 of its accounts receivable from February sales. Show the effect on the accounting equation below: IF THERE IS NO EFFECT, SELECT "0 NO EFFECT." A. Assets F. Liabilities F. Shareholders' Equity A. 6,000 Cash; (6,000) Accounts Receivable B. (6,000) Accounts Receivable C. 6,000 Accounts Receivable D. 6,000 Accounts Receivable; (6,000) Cash E. 6,000 Cash F. 0 No Effect G. 6,000 Cash; (6,000) Accounts Payable H. 6,000 Accounts Payable
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