Which of the following entries records the receipt of cash from customers on account? Accounts Payable, debit; Fees Earned, credit Accounts Receivable, debit; Fees Earned, credit Accounts Receivable, debit; Cash, credit Cash, debit; Accounts Receivable, credit Which of the following entries records the collection of cash from cash customers? Fees Earned, debit; Cash, credit Fees Earned, debit; Accounts Receivable, credit Cash, debit; Fees Earned, credit Accounts Receivable, debit; Fees Earned, credit Net income will result when revenues (credits) Greaterthanexpenses (debits) revenues (debits) Greaterthanexpenses (credits) expenses (credits) lessthanrevenues (debits) revenues (credits) = expenses (debits) Using accrual accounting, revenue is recorded and reported only when cash is received without regard to when the services are rendered when the services are rendered without regard to when cash is received when cash is received at the time services are rendered if cash is received after the services are rendered Using accrual accounting, expenses arc recorded and reported only when they are incurred, whether or not cash is paid when they are incurred and paid at the same time if they are paid before they are incurred if they are paid after they are incurred One of the accounting concepts upon which deferrals and accruals are based is Matching Cost price-level adjustment Conservatism Adjusting entries affect at least one income statement account and one balance sheet account revenue and the dividends account asset and one stockholders' equity account revenue and one common stock account A business pays weekly salaries of $20,000 on Friday for a five-day week ending on that day. The adjusting entry necessary at the end of the fiscal period ending on Tuesday is debit Salaries Payable, $8,000; credit Cash, $8,000 debit Salary Expense, $8,000; credit Dividends, $8,000 debit Salary Expense, $8,000; credit Salaries Payable, $8,000 debit Dividends, $8,000; credit Cash, $8,000